The Hong Kong lawmaker and Web3 advocate said common law, open capital flows and ties to southern China give the city a unique role in global crypto markets.
The exchanges were accused of facilitating transactions for the Islamic Revolutionary Guard Corps and are linked to an Iranian businessman convicted of embezzlement.
The U.S. government is likely to shut down Saturday morning until the House votes on a funding package, raising the importance of specificity in prediction market bets.
The bitcoin-friendly nation's central bank now holds over $360 million of the yellow metal, while the government, led by President Nayib Bukele, has bitcoin holdings worth $635 million.
The market structure legislation for the first time advanced beyond a committee, setting up the next steps that could end with a vote of the overall chamber.
Russian lawmakers plan crypto regulations by midyear, permitting trading for qualified and retail investors while banning anonymous coins and domestic payments.