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Singapore Takes the Lead in Crypto Licenses with 13 New Approvals in 2024

In 2024, Singapore issued 13 crypto licenses, surpassing the 6 from 2023. This attracts firms like OKX, Upbit, and BitGo, fostering a thriving digital asset market, thanks to favorable regulations.

Contrastingly, Hong Kong only issued seven licenses in 2024, facing regulatory challenges. Many exchanges have withdrawn applications due to restrictions linked to mainland China’s policies.

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