Crypto Projects Turn to Asia for Growth Opportunities Amid Regulatory Scrutiny in the U.S.
Crypto projects and investors are turning to Asia in search of growth opportunities amid increasing regulatory scrutiny in the United States.
Over the past year, there has been a notable increase in the expansion of U.S.-based crypto projects into the Asia-Pacific (APAC) region, driven by favorable policies and the growing adoption of cryptocurrencies, Kevin Goldstein, senior advisor to crypto investment firm HashKey Capital, told TechCrunch.
Asia has become an attractive destination for crypto ventures due to several factors.
The recent legalization of retail crypto trading in Hong Kong has enticed Web3 startups to establish a presence there, which hope to tap into the vast investor base in mainland China where crypto is banned.
Singapore's clear guidelines on stablecoin regulation have also been well-received, drawing interest from companies such as Circle, the issuer of the popular stablecoin USDC.
The significance of Asia as a growth market for crypto projects was evident at Token2049, a prominent crypto conference held in Singapore in September.
This year's event saw the largest gathering of U.S. crypto venture capitalists ever witnessed at an Asian conference, highlighting the shifting focus from the U.S. to Asia.
Positive developments surrounding stablecoins, XRP, and the potential for ETFs in Asia have contributed to this change in perception.
The allure of Asia lies in the opportunities it presents for entrepreneurs and companies.
By establishing operations in Asia, they can benefit from a supportive regulatory environment and tap into a market that offers greater freedom and fewer legal repercussions compared to the U.S.
This has led to an influx of talent and investment from U.S.-based crypto players such as
Read more on cryptonews.com
