Bloomberg: Singapore to Issue 13 Cryptocurrency Licenses in 2024

According to Bloomberg, Singapore issued 13 cryptocurrency licenses in 2024 to a range of cryptocurrency players, including OKX and Upbit, as well as Anchorage, BitGo, and GSR. This figure is double the number of licenses granted last year, compared to the similar approval system in Hong Kong. The analysis pointed out that both Xinggang and Xinggang are competing to attract virtual asset companies to their own markets through dedicated systems, tokenization projects, and regulatory sandboxes, but progress has been uneven. Hong Kong's exchange supervision system is stricter in many important aspects, such as custody of customer assets and token listing and delisting policies, which may benefit Singapore's attractiveness.