Hong Kong crypto regulation & infrastructure: Singapore tops ranking
Singapore ranked first in the 2026 Global Crypto-Friendly City Index, ahead of traditional financial centers like London and New York. The Asia-Pacific region also performed strongly, taking six of the top 10 spots, reflecting rising influence in attracting digital asset capital, entrepreneurs, and infrastructure.
The ranking by Multipolitan, released earlier this month, evaluates cities on regulatory clarity, tax efficiency, institutional infrastructure, and real adoption.
Multipolitan CEO Nirbhay Handa said: "Singapore's leading position reflects a deeper structural shift. Crypto competitiveness is increasingly about regulatory predictability, operational infrastructure, and capital efficiency."
Besides Singapore, Hong Kong, Bangkok, Seoul, Kuala Lumpur, and Taipei entered the top 10. Multipolitan said this reflects the Asia-Pacific's growing competitiveness in digital assets, especially in licensing, stablecoins, ETF frameworks, digital-native consumers, and tax environments.
Low tax no longer the only factor: regulation & infrastructure more critical
Multipolitan noted low tax rates alone cannot sustain long-term crypto competitiveness. Best-performing cities combine transparent governance, reliable licensing roads, institutional infrastructure, and high daily usage.
The platform calls this the "low-tax, high-credibility" model, distinguishing modern digital asset hubs from traditional financial centers. The latter, despite mature systems, may have compliance complexity that limits innovation.
The index focuses on infrastructure already in place, not just policy announcements. Examples: Singapore's regulated stablecoin framework, Hong Kong's spot virtual asset ETFs, Dubai's licensed VASP ecosystem, and merchant/government payment integration.
MAS in 2023 released a stablecoin issuance framework. Not yet law, but legislation to follow.
Multipolitan's index also shows Hong Kong consolidating through exchange licenses and institutional product expansion. Thailand gains via regulatory sandboxes and tax exemptions. Dubai ranks high due to zero personal income tax and clear regulatory infrastructure under VARA.
