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Contrasting Treatment of Crypto Companies in the US and Asia Raises Questions about the Future of Crypto in America

Circle has obtained a Major Payment Institution license in Singapore, highlighting the different regulatory approaches towards crypto companies in Asia and the US. While the SEC is taking a tough stance on crypto in the US, Asia is leading the way in shaping the future of finance.

The SEC's lawsuits against Coinbase and Binance for operating as unregistered broker-dealers could determine the future of crypto in America.

The US needs to update its legal system to embrace the industry and establish a compliance framework, as the regulatory approach risks hindering progress and innovation.

Hong Kong is positioning itself as a significant hub for crypto and the tokenization of traditional financial assets, estimated to be worth up to US$16 trillion by 2030, and simplifying the regulatory process for compliant operators is necessary to protect consumers and foster innovation.

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