Golden Finance reports that, according to Bloomberg, Singapore issued 13 cryptocurrency licenses to a range of cryptocurrency operators in 2024, including OKX and Upbit, as well as Anchorage, BitGo, and GSR. This number is double that of last year's licenses issued, while Hong Kong's similar approval system is much slower by comparison. Analysts point out that both Singapore and Hong Kong are competing to attract virtual asset companies to their markets through specialized systems, tokenization projects, and regulatory sandboxes, but progress is uneven. Hong Kong's exchange regulatory system is more stringent in many important aspects, such as the custody of client assets and policies for token listing and delisting, which may enhance Singapore's attractiveness.