CandleFocus Singapore surpasses Hong Kong as digital assets leader in 2024 with 13 crypto licenses issued
2024-12-24
Author: Content Editor
Singapore has taken the lead in attracting crypto businesses, issuing 13 licenses to operators in 2024, including major players like OKX and Upbit. This marks a significant increase from the previous year. In contrast, Hong Kong's licensing program has been slower, with stricter rules in areas like customer asset custody and token policies. Hong Kong has fully licensed seven platforms and has another seven with provisional licenses. However, major exchanges like OKX and Bybit have withdrawn their applications for Hong Kong licenses.
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