Regional encryption power balance is changing to Japanese pop pop.

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Asia Morning Briefing, summarizes the best story during the US time and welcomes you to an outline for market movement and analysis. For more information on the US market, see CRYPTO Daybook Americas of COINDESK.

Traditional wisdom claims that the battle with Asia’s cryptographic herbs is a competition between Singapore and Hong Kong. Both cities have English in the official language and use the customs inspired by the West in the court system.

But during the Token2049, the management did not discuss whether Singapore or Hong Kong would win the Asia Crypto Hub title. Instead, they talked about how Japan once written in over -regulation became the most reliable market in the region for the actual trading volume, staying infrastructure and institutional growth.

Blockdaemon’s CEO, Konstantin Richter, said in the ToKen2049, “Japan has not been regulated for a long time. Don’t forget, and there’s no work for a long time.” It has a possible regulatory infrastructure, and here (in Singapore), it was a free fall and now started to build regulations. “

Singapore moved quickly and then tightened. It opened the door early to crypto companies and gained a reputation as an Asian sandbox for innovation. It worked until it was not.

Due to the collapse of FTX and other failures, weak consumer protection was exposed and urged that in 2024, Singapore’s currency permission to swing to severe supervision. Results: High regulations compliance costs, forced custody separation, external audit and slow license. Those who do not like it should leave even if they do not provide services to Singapore -based customers. It is a lot of efforts for relatively small markets.

Richter said, “Singapore is encrypted, so everyone wanted to come here.” Then something happened and suddenly waited for a while. We need more stringent rules. “

In contrast, Japan did difficult regulatory work a few years ago.

Following GOX (2014) and COINCHECK (2018), Japanese regulators have already imposed strict license, separation and land custody rules long before the FTX.

Japan is taking place slightly instead of tightening until 2025. It allows institutional staying, sets the passage of encryption support ETF, and clears how companies can provide returns.

Unlike Singapore’s first innovation, regulatory lighting approaches, Japanese regulators have written detailed rules for custody, separation and security a few years ago. The exchange must have a separate customer asset and use a domestic validation inspector to create a type of environment preferred by environmental institution investors.

Richter said that Asian customers, especially Asian customers in Japan, are willing to pay institutional grade infrastructure in contrast to Europe, where customers are generally more price -centered.

Change is not just regulation. Nearly invisible yields in Japan -Japan Bank ended only the negative ratio last year -abnormally attractive. The 3 %ET yield is 30 times higher than domestic financial income. That’s why Blockdaemon and other node operators consider Tokyo as the next major destination for institutional staying flow.

We are also paying attention to derivatives Exchange Bitmex. In a recent interview with COINDESK, Bitmex CEO, BitMex CEO, said in a recent interview with COINDESK that the data center moved to the Amazon Web Services facility in Tokyo and is near where the behavior is.

Japan’s encryption framework was once accused of being too strict, but now provides clear advantages such as predictable supervision, investor protection and institutional return.

The problem is how Hong Kong and Singapore’s general herbs compete?

Market movement

BTC: Bitcoin has surpassed $ 126,000 in the “perfect storm” of the macro -tailed wind. However, the latest brake out has more than $ 125,000, mainly from non -institutional demands. As the inflow of ETFs is suspended and retail transactions are high, the momentum of the BTC suggests that BTC’s elasticity is steadily maintaining whales and insufficient stories.

ETH: Ether Lee has traded about $ 4,705 and added a recent strength in the new interest in chain, upgrade, and upgrade from BTC to Altcoins, with the addition of BMNR (Bitmine Inmersion Technologies) last week. The second largest password finance after the strategy.

gold: The gold amounted to about $ 3,960, but bank analysts can now face metals and face the Q4 integration after a 50%rally, but if the long-term chart still continues, it still leaves a profit of $ 5,000 to $ 7,000, still facing Q4 integration.

Nikkei 225: Japan’s Nikkei 225 set another record on Tuesday, and after the Openai-AMD transaction, it was improved to Wall Street Technology Rally and strong chip stocks, raising optimism about the growth policy by expanding profits after Sanatakaichi elected the next prime minister.

Elsewhere in encryption:

• Why are all suddenly talking about the personal information protection coins Zcash? (decoding)
• The ark of Cathie Wood bet on tokenization with a stake in the Blackrock-Backed Securitize (Coindesk)
• The US Federal Shutdown stops encryption progress as the SEC gets darker, and TD COWEN warns (block)