![]() Securities & Exchange Commission under Chair Gary Gensler views most tokens as unregistered securities and has acted against issuers and exchanges for failing to register with the agency.īut conflicting court judgments on the matter have stirred confusion in the U.S. But the environment in the US is not terribly friendly. “We have chosen not to engage in commercial activity in the US,” he said in an interview. ![]() exchange eliminated over 100 staff as the American clampdown erodes its business.Ī $2 trillion crash in digital assets since 2021 added to the challenging backdrop.Īmong the attendees was Tom Farley, a former New York Stock Exchange president who is chief executive at the Gibraltar-registered digital-asset exchange Bullish.įarley said Bullish plans to apply for a license in Hong Kong after the city rolled out a new regulatory framework to develop a crypto hub. The company heads spoke in Singapore at a high-profile Asia crypto conference, which began Wednesday right after the Binance. agencies and slow progress in Congress toward legislation to clarify the status of digital assets. Greater regulatory clarity in Hong Kong, Singapore and Japan is a drawing card, industry executives said, compared with enforcement actions and lawsuits by U.S. Crypto is increasingly looking to Asia for a revival as the chastened sector reels from a crackdown in the U.S.
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