#Crypto in #Asia to thrive

An exodus of prominent U.S. crypto and financial #technology companies has already begun, and many of them are heading to Asia.

With clearer rules, Asia stands to gain more in this war against cryptocurrencies. Meanwhile, companies are being forced to diversify their business elsewhere, the Straits Times reported on June 23.

Hong Kong will benefit more than Singapore, according to market players. Singapore exchange Coinhako founder Liu Yusho told the media outlet that Asia is already home to a thriving #blockchain and crypto industry.

He added that Southeast Asia has 8.6% of the world's population. However, it accounted for 14% of global crypto #transactions by the end of 2022.