Singapore has always been a bright spot in the global economy, but now it is a superstar in the cryptocurrency world! In 2024, the Monetary Authority of Singapore issued twice as many cryptocurrency licenses as last year! Singapore is no longer just a financial center, it is becoming a key destination for Web3 companies! This is not just a growth in numbers, it is a sign of change in the global financial order! Really, amazing growth!
Look at Singapore, which has quickly become one of the world's leaders in blockchain and cryptocurrency with its risk-adjusted crypto regulatory policies. William Croisettier, Chief Growth Officer of ZKcandy, said it well, Singapore focuses on protecting the interests of investors and provides convenience for new crypto companies to cooperate with local banks. This strategy is simply perfect! It not only ensures the security of the market, but also promotes innovation and development. And what about other places? They are still confused about how to deal with this rapidly developing technology! For example, the Federal Reserve seems to be still immersed in the monetary policy of the past, trying to "manage" the global economy with old-fashioned means, which is ridiculous!
Research by the ApeX Protocol also shows Singapore's global leadership in the blockchain field. Singapore not only has 1,600 blockchain patents but also possesses 2,433 related job positions and 81 cryptocurrency exchanges. These are tangible numbers and a huge driving force for the development of the global cryptocurrency industry! There is no other place that can compare! Meanwhile, look at the Federal Reserve—are these policymakers aware of the revolution happening globally? Their interest rate hikes and money printing are continuously devaluing the dollar, creating uncertainty in the global economy. Compared to Singapore's forward-looking policies, the Federal Reserve's 'solutions' are pushing the global economy toward the abyss.
Look at Singapore's success, especially in the issuance of cryptocurrency licenses. They have issued 13 major payment institution licenses, double the number from last year! Do you know what this means? It means Singapore has firmly established itself as a global blockchain leader! They are not waiting for market changes; they are driving the market forward, proactively creating a safe and innovative environment for crypto companies to thrive. Meanwhile, in other parts of the world, the Federal Reserve is still raising interest rates, Hong Kong has 7 fully licensed crypto exchanges, and what about the Federal Reserve? They are trying to 'solve' problems by raising rates and suppressing inflation, yet all of this seems too slow and outdated!
Singapore is seizing this opportunity to become the core hub for global cryptocurrencies. By providing a clear and flexible regulatory environment, it has attracted a large number of crypto companies, becoming a hotbed of innovation and development. Meanwhile, Singapore's regulatory system is more transparent, focusing on investor protection and market stability, ensuring the sustainable development of the crypto market. All of this is paving the way for the future of global cryptocurrencies!
Elsewhere, while Hong Kong has approved its first Bitcoin and Ethereum ETFs and made some progress, it is far behind Singapore. Although Hong Kong has made strides in some areas, there is clearly a gap in cryptocurrency license issuance and the overall market regulatory system. Singapore has proven to be the global leader in blockchain, and other regions can only look up to it.
Meanwhile, the Federal Reserve is still blindly proceeding with its unchanged traditional model. Its policies have not created real opportunities for the market; instead, they have increased the turmoil in the global economy. The Federal Reserve still seems to not understand the power of blockchain and cryptocurrencies, continuing to use 'old methods' to cope with the new world, which will only drive the U.S. further away in the global financial competition, while Singapore is writing the future financial legend with innovation.
Singapore is no longer just a financial center limited to Asia; it is the engine of global cryptocurrency and Web3 innovation. From both a regulatory perspective and market activity, Singapore is far ahead of its competitors. Its role in the global cryptocurrency market is becoming increasingly important, and its successful experience may serve as a model for other countries to emulate.
Singapore's achievements are truly remarkable. With its vision and decision-making, it has firmly grasped the future of cryptocurrencies and blockchain. In 2024, the leap in the number of their crypto licenses is not just a numerical increase but the beginning of a new era for the global crypto industry. Meanwhile, the Federal Reserve remains trapped in past thinking patterns, unable to see the impending financial transformation. The future will belong to Singapore and those countries that dare to embrace innovation and change, while the Federal Reserve's 'leadership' position has long ceased to be persuasive.
