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Singapore Leads the Race for Digital Assets in Asia, Regulatory Advantage Surpassing Hong Kong
According to the latest report from Bloomberg, Singapore is rapidly rising and is expected to surpass Hong Kong by 2024, becoming the leader in Asia's digital asset space, particularly excelling in regulatory efficiency and attracting cryptocurrency companies.
This year, Singapore significantly increased the issuance of cryptocurrency licenses, reaching a total of 13, more than double that of last year. Well-known international platforms such as OKX, Upbit, Anchorage, BitGo, and GSR have obtained operational licenses, further proving Singapore's strong attractiveness to cryptocurrency firms.
In stark contrast, Hong Kong has made slow progress in issuing licenses, with only seven platforms obtaining formal licenses, while several others hold temporary licenses.
This year, Singapore significantly increased the issuance of cryptocurrency licenses, reaching a total of 13, more than double that of last year. Well-known international platforms such as OKX, Upbit, Anchorage, BitGo, and GSR have obtained operational licenses, further proving Singapore's strong attractiveness to cryptocurrency firms.
In stark contrast, Hong Kong has made slow progress in issuing licenses, with only seven platforms obtaining formal licenses, while several others hold temporary licenses.
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