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Singapore's 'Risk-Adjusted' Approach Positions It as Asia's Crypto Hub

Singapore’s crypto-friendly policies and double license issue make it Asia’s next blockchain powerhouse

3 min January 1, 2025

Highlights:

Singapore issues double the crypto licenses in 2024, boosting blockchain growth.

The country adopts risk-adjusted crypto regulations, prioritizing major digital currencies for investor protection.

Singapore leads in blockchain patents, jobs, and crypto exchanges, outpacing regional competitors.

Singapore's 'Risk-Adjusted' Approach Positions It as Asia's Crypto Hub

Singapore is fast emerging as a key crypto hub. In 2024, the country issued twice as many crypto licenses compared to the previous year. This upward trend signals Singapore’s increasing importance in the global digital asset market. The country’s welcoming approach toward innovation, combined with its solid regulatory framework, is positioning it as a leading force in Asia’s crypto landscape.

 

Smart Regulations Fuel Growth

 

 

Singapore’s regulatory framework is unique in that it balances safety with innovation. The country has adopted a risk-adjusted approach to crypto regulation, targeting the largest and most prominent digital currencies. 

 

The government's strategic regulation ensures that blockchain and crypto businesses can thrive without unnecessary red tape. By fostering innovation while addressing risks, Singapore strikes a balance that makes the country ideal for entrepreneurs and investors alike. 

 

Rising Numbers Reflect Singapore’s Crypto Leadership

 

The numbers speak for themselves. Recent studies highlight Singapore's dominance in blockchain innovation. The city-state leads in blockchain patents, industry-related jobs, and the number of crypto exchanges. 

 

According to a report by ApeX Protocol, Singapore is home to 1,600 blockchain patents, 2,433 blockchain-related jobs, and 81 crypto exchanges. These figures show that Singapore has become a global leader in the blockchain space.

 

In addition to these figures, Singapore’s Monetary Authority issued 13 Major Payment Institution licenses in 2024, more than double the number given out in 2023. This move solidifies Singapore’s reputation as a key player in the crypto space.

 

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