Master Wu Jiezhang promotes Coinbase's move to Hong Kong: from policy support to substantive engagement

Legislative Council Member of the Hong Kong SAR, Wu Jiezhuang, has taken a series of actions indicating that Hong Kong’s sincerity in attracting international crypto exchanges is transforming into concrete steps. The member of the National Committee of the Chinese People’s Political Consultative Conference recently revealed on social media that he has established communication channels with Coinbase, and both parties will explore the specific possibilities of conducting business in Hong Kong.

From Statement to Engagement: Practical Steps Toward Policy Friendly Actions

As early as June 10, Wu Jiezhuang publicly expressed a welcoming attitude toward global virtual asset trading platforms, including Coinbase. At that time, he stated support for compliant platforms to apply for licenses and establish operations in Hong Kong. Just a few days later, the legislator turned his stance into action by proactively establishing contact with Coinbase. This rapid pace of advancement reflects Hong Kong’s urgent demand in the virtual asset sector—attracting leading exchanges to settle in has become a key strategic goal in the competition to be a global crypto hub.

Development Opportunities Are Coming: Awaiting Further Official Announcements

Wu Jiezhuang stated that the communication between both sides is currently in the exploratory stage, and specific cooperation details and timelines are still under negotiation. He promised to announce any new progress promptly. This means that while the possibility of Coinbase entering the Hong Kong market still has uncertainties, there is strong policy support from the legislative level. For Coinbase, this is an important opportunity to enter the Asian market, especially to open up business in Greater China; for Hong Kong, it is a crucial step toward improving the virtual asset ecosystem and competing for the status of a global crypto center.

Wu Jiezhuang’s proactive promotion indicates that Hong Kong’s political circles are shifting from observation to active embrace of the virtual asset industry.