virtual assets

The US regulator’s latest crackdown on crypto exchanges is harmful for those looking to expand in the US, but beneficial for Asian markets looking to become global crypto hubs, observers note.

Hong Kong’s undertaking for cryptocurrencies challenges Singapore’s endeavours as Asia’s virtual asset hub. But the city’s new enthusiasm comes amid contagion worries surrounding the collapse of trading platform FTX, which galvanises traditional regulatory support for new digital money.

The introduction of the framework provides clarity and certainty to operators in the space, while offering a model for other global regulators to emulate.

Hong Kong’s regulators are moving towards the acceptance of virtual assets, with their latest statements suggesting plans to open the industry to more types of investors soon.

Dechert has named Maria Sit, Asia head and global co-leader of the White Collar, Compliance and Investigations practice, as its new Hong Kong managing partner.

Cryptocurrency firms based in Singapore must now be licensed in the city state, even if they have no local operations.

Dubai’s new crypto-friendly regulation has drawn Bybit and its peer, Crypto.com, to the emirate.