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Singapore leads Hong Kong in race to become crypto hub
Mint Mumbai
|December 25, 2024
Hong Kong's tight curbs on exchanges may have tipped the balance in favour of Singapore
Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction.
Singapore doled out 13 crypto licences in 2024 to a range of crypto operators, including top exchanges OKX and Upbit, as well as global heavyweights Anchorage, BitGo, and GSR. That's more than double the licences awarded by the city-state the previous year. A similar licensing regime in Hong Kong has been slow to progress.
Both cities are bidding to entice digital-asset firms to their shores with dedicated regimes, tokenization projects and regulatory sandboxes. Local authorities see in crypto the potential to boost the allure of their respective jurisdictions as global business hubs, but progress has been uneven.
यह कहानी Mint Mumbai के December 25, 2024 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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