CROWDFUNDINSIDER · 2026-11-03 02:14 UTC

Hong Kong Established Asia's Crypto and Blockchain Industry, Then Talent Fled to Singapore

Hong Kong established Asia's crypto industry but lost talent and operations to Singapore during pandemic travel restrictions, with many firms relocating for operational flexibility. Singapore later tightened regulations after high-profile collapses, while South Korea became the largest crypto market by transaction volume, followed by Japan and Hong Kong. Hong Kong is now competing to recover ground through formal licensing regimes and stablecoin rules, attracting institutional flows, though no single Asian city currently dominates across all metrics.

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