Thread by @shyftnetwork

1/ With 2022 almost at its end, now is a good time to know about crypto regulations worldwide, starting with Asia.

And it goes without saying Asia is a major player in the global #crypto market 🌏

After all, Asia accounts for 43% of global crypto activity. 📈

2/ However, the regulatory landscape for #crypto in Asia is complex and varied, with different approaches taken by different countries. 

For example, Japan 🇯🇵 and South Korea 🇰🇷 have heavily regulated the crypto industry and even legally recognize them.

3/ In contrast, some other countries in the region, such as China 🇨🇳 & Bangladesh 🇧🇩, have taken a stricter stance, banning cryptocurrencies altogether. 

India 🇮🇳, on the other hand, has adopted a “Wait & Watch” approach.

4/ Whereas Indonesia 🇮🇩 has legally allowed crypto trading in the country but bars #crypto companies from promoting tokens.

Despite the challenges, the crypto industry in Asia continues to thrive, with many countries adopting a more open and supportive approach to regulation.

5/ Singapore 🇸🇬, for instance, has established itself as a hub for crypto and blockchain innovation, with a clear and comprehensive regulatory framework. 💡

And Thailand’s government 🇹🇭 has introduced a regulatory sandbox for fintech and blockchain companies to experiment!

6/ Overall, in time, we will likely see more uniformity in crypto regulations across Asia, fostering greater innovation and growth in the industry.

So, will Asia’s share in the crypto market grow in the coming days? Comment below.

@threadreaderapp unroll #CryptoRegulations