Amid increasing U.S. regulatory scrutiny, crypto firms are eyeing Asia’s favorable policies and growing market as a promising relocation destination.
As with any industry, crypto businesses tend to flock to an environment with the best resources, the most scope for growth, a thriving market of consumers, and a favorable regulatory landscape. With the recent actions of U.S. regulators, however, continuing to expand operations in the country at the risk of being hit with an enforcement action is far from an appealing prospect. Many firms would prefer to move overseas than stick around and find out.
But where are they moving to if they are, in fact, moving? Signs appear to point to Asia, a region of diverse countries characterized by rising income and high-value venture investments, that has made it emerge as a hub for crypto businesses. We explore how Asia’s demographics and crypto adoption rates have made it an attractive destination for web3 firms. Whether existing regulatory policies within some of these countries are actually as friendly as reports make them out to be? And, finally, how serious are firms based in the West on a move to the East?
Source: Crypto News