According to Odaily Planet Daily, Hong Kong and Singapore have led the regulatory progress of the Asian cryptocurrency market in 2024. It is expected that by 2025, the Asian market will further develop its regulatory environment and improve the framework to increase the adoption of cryptocurrencies. Industry insiders believe that if Hong Kong becomes the only jurisdiction to provide pledge functions, it may bring new advantages. Markets such as Singapore and Hong Kong may launch more innovative financial products and improve the framework to promote adoption.