Asia is positioning itself as a more attractive destination for cryptocurrency investors due to its clearer and faster regulatory framework compared to the United States. Hong Kong has opened crypto trading to retail investors and upgraded licenses for two exchanges, signaling the recognition of virtual assets as a regulated asset class. Singapore has also been proactive in granting licenses to crypto firms such as Blockchain.com and Ripple. Meanwhile, Thailand and Indonesia have banned the use of crypto for payments but allow trading as a commodity. Crypto leaders have criticized the lack of clarity in U.S. regulation, with some firms considering moving to more progressive jurisdictions in Asia.

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