Pradyumna Agrawal, Managing Director of Temasek, said at the Singapore Token2049 "Institutionalization of Digital Assets" theme roundtable: "In different markets, there are consistent themes in terms of protecting retail investors and retail investor protection. I think this is because many regulatory actions have taken place in the United States, and many people are actually paying attention to the United States. In this region, the very obvious theme is that institutional participation is very critical. It really depends on each institution, how they will formulate policies and how to deal with this issue. There has really been more progress in formulating regulatory policies.

You can see that Singapore has issued these most advanced regulatory policies. There is also related work underway in the Middle East. Related work is also underway in Hong Kong, which is very positive for the industry. I think the focus we see in this region is whether you can formulate clear regulations to prevent these participants from being unregulated. You have clear rules and guidelines to operate on. I think this is related to the population structure. The focus is still on non-institutional use cases, such as games and entertainment.

Many people here may have participated in the Korean Blockchain Week in Korea. We have seen a lot of activities and attention to these areas. This actually means that we see a very balanced approach in Asia, where there are no clear rules and regulations. A clear sign is when you can get these rules so that you can operate accordingly. Of course, everyone is paying attention to the United States, and now Europe has MICA, and the UK is also formulating regulations."