It's still Singapore 🇸🇬!
In 2024, Singapore issued 13 cryptocurrency licenses, doubling the number from the previous year, with well-known platforms like OKX, Upbit, and BitGo receiving approvals. In contrast, Hong Kong only had 7 platforms obtain full licenses.
• Strengthening its position as the Asian crypto hub: Singapore is gradually establishing its leading position in the Asian crypto industry.
• Surge in market activity: Previous rounds of license issuance have brought significant market activity, and this time is expected to be no exception.
• Institutional capital inflow: With a clear regulatory environment, institutional funds typically flow in within 3-6 months.
• Focus: Singapore is expected to welcome more exchanges launching new cryptocurrencies and strategic partnerships.
Hong Kong 🇭🇰 is still lagging behind...