Bloomberg: Singapore issues 13 cryptocurrency licenses in 2024

ChainCatcher news, according to Bloomberg, Singapore issued 13 cryptocurrency licenses to a range of cryptocurrency operators in 2024, including OKX and Upbit, as well as Anchorage, BitGo, and GSR. This number is double that of the licenses granted last year, while Hong Kong's similar approval system is much slower in comparison.

Analysis points out that both Singapore and Hong Kong are competing to attract virtual asset companies to their markets through specialized systems, tokenization projects, and regulatory sandboxes, but the progress is uneven. Hong Kong's exchange regulatory system is much stricter in many important aspects, such as the custody of client assets and the policies for token listing and delisting, which may enhance Singapore's attractiveness.