Bloomberg: Singapore to issue 13 cryptocurrency licenses by 2024

according to Bloomberg, Singapore issued 13 cryptocurrency licenses to a series of cryptocurrency industry players in 2024, including OKX and Upbit, as well as Anchorage, BitGo, and GSR, doubling the number of licenses issued last year. In contrast, Hong Kong's similar approval system is much slower. Analysis shows that both Singapore and Hong Kong are competing to attract virtual asset companies to their markets through specialized systems, tokenized projects, and regulatory sandboxes, but progress is not balanced. Hong Kong's exchange regulatory system is stricter in many important areas, such as the custody of customer assets and token listing and delisting policies, which may be advantageous to Singapore's attractiveness.