哈薩克斯坦，馬爾代夫和巴基斯坦最近概述了將自己定位為加密樞紐的野心

投入：哈薩克斯坦，馬爾代夫和巴基斯坦最近概述了將自己定位為加密樞紐並建立數字經濟體的野心。

Several countries, including Kazakhstan, the Maldives and Pakistan, have recently outlined ambitions to position themselves as crypto hubs and build out their digital economies.

包括哈薩克斯坦，馬爾代夫和巴基斯坦在內的幾個國家最近概述了將自己定位為加密樞紐並建立數字經濟體的野心。

However, global crypto firms are more familiar with established financial centers like Singapore, the United Arab Emirates, Hong Kong, the U.S. and the U.K., which are actively vying to become the world’s leading crypto hub.

但是，全球加密企業對新加坡，阿拉伯聯合酋長國，香港，美國和英國等既定金融中心都更加熟悉，這些中心正在積極爭奪世界領先的加密樞紐。

To navigate this competitive landscape, each hub is highlighting its unique strengths and adjusting to counter the weaknesses.

為了瀏覽這一競爭格局，每個樞紐都強調了其獨特的優勢並適應以應對弱點。

Here’s how five of them are backing their crypto dreams.

這是他們中的五個支持他們的加密夢想的方式。

Singapore: The crypto hub with parental guidance

新加坡：帶有父母指導的加密樞紐

Singapore is a renowned financial hub, boasting a AAA credit rating, low corporate tax rates and pro-business regulations. With the advent of digital assets, the Lion City is among the front-runners in the crypto hub race.

新加坡是一個著名的金融樞紐，擁有AAA信用評級，較低的公司稅率和親企業法規。隨著數字資產的出現，獅子城是加密樞紐樞紐競賽的領先者之一。

Singapore was an early adopter in crypto regulation. Its Payment Services Act (PSA) of 2019, which came into effect in 2020, was one of Asia’s first comprehensive legal frameworks that covered crypto activities.

新加坡是加密法規的早期採用者。其2019年的《付款服務法》（PSA）於2020年生效，是亞洲首個涵蓋加密貨幣活動的首個綜合法律框架之一。

The PSA uses the term “digital payment token” (DPT) to denote digital representations of value that can be transferred, stored or traded electronically, such as crypto.

PSA使用“數字付款令牌”（DPT）一詞來表示可以通過電子方式傳輸，存儲或交易的價值的數字表示，例如加密貨幣。

At the time of writing, 33 DPT service providers are licensed by the Monetary Authority of Singapore (MAS), the city-state’s central bank. Casper Johansen, co-founder of Singapore- and Hong Kong-based Spartan Group, noted that license approvals have moved at a measured pace, allowing faster-moving hubs like Dubai to catch up.

在撰寫本文時，有33個DPT服務提供商獲得了新加坡貨幣管理局（MAS）的許可，該公司是城市國家的中央銀行。新加坡和總部位於香港的Spartan Group的聯合創始人卡斯珀·約翰森（Casper Johansen）指出，許可證批准的速度已經以測量的速度移動，從而使迪拜這樣的更快移動的輪轂可以追趕。

“Singapore is more of an institutional financial hub than a retail financial hub,” Johansen said, alluding to the city-state’s restrictions on crypto marketing to retail investors.

約翰森說：“新加坡比零售金融樞紐更像是機構財務中心。”

The ban on marketing to retail has not affected Singapore’s position as a global crypto hub. Crypto firms choose to set up in Singapore for the low and transparent taxes, strong regulatory framework and rule of law, world-class professional services, ease of living and global connectivity,” Johansen added.

對零售營銷的禁令並未影響新加坡作為全球加密樞紐的地位。加密公司選擇在新加坡成立低透明稅，強大的監管框架和法治，世界一流的專業服務，易於生活和全球連通性，”約翰森補充說。

But cracks have emerged recently, particularly around immigration and hiring policy. In late 2024, concerns flared when the CEO of blockchain analytics firm Nansen, Alex Svanevik, shared that he was denied permanent residency. The government has ramped up efforts to prioritize local hiring amid growing political sensitivity over foreign labor.

但是最近出現了裂縫，尤其是在移民和招聘政策方面。 2024年底，當區塊鏈分析公司Nansen的Alex Svanevik的首席執行官Alex Svanevik的首席執行官分享說，他被拒絕了永久居留權。由於對外國勞動的政治敏感性日益增加，政府已加大了努力，以優先考慮當地招聘。

UAE rolls out the welcome mat for crypto hub status

阿聯酋推出了加密集線器狀態的歡迎墊

Unlike other crypto hub contenders, Dubai has a dedicated virtual assets regulator, the Virtual Assets Regulatory Authority (VARA).

與其他加密樞心樞紐競爭者不同，迪拜具有專用的虛擬資產調節器，即虛擬資產監管機構（VARA）。

Its wide-ranging licensing regime provides clear guidelines, even for NFT platforms, which major economies like the European Union have yet to address. The EU’s Markets in Crypto-Assets (MiCA) framework currently excludes NFTs.

它的廣泛許可製度也為NFT平台提供了明確的指導原則，即歐盟這樣的主要經濟體尚未解決。歐盟在加密資產（MICA）框架中的市場目前不包括NFT。

VARA’s clarity is appealing to companies frustrated by regulatory uncertainty elsewhere. Binance, a borderless exchange with no official head office, has had to rethink that model under global regulatory pressure, and the exchange’s ties to the UAE have been growing.

Vara的清晰度吸引了對其他地方監管不確定性感到沮喪的公司。 Binance是沒有官方總部的無邊界交流，不得不重新考慮在全球監管壓力下的模型，而交流與阿聯酋的聯繫一直在增長。

Richard Teng, former CEO of free zone Abu Dhabi Global Market, took over as the CEO of Binance following Zhao, and recently hinted that UAE is a strong candidate for the exchange’s headquarters, though a decision hasn’t been made yet.

自由區阿布扎比全球市場前首席執行官理查德·滕（Richard Teng）接任趙之後的首席執行官，並最近暗示，阿聯酋是交易所總部的有力候選人，儘管尚未做出決定。

The UAE also provides its own incentives, such as no personal income tax and free zones like the Dubai Multi Commodities Centre (DMCC) and Dubai International Financial Centre (DIFC) offer 0% corporate tax advantages and 100% foreign ownership.

阿聯酋還提供自己的激勵措施，例如沒有個人所得稅和免費區域，例如迪拜多商品中心（DMCC）和迪拜國際金融中心（DIFC）提供0％的公司稅優勢和100％的外國所有權。

Crypto firms have reported easier access to banking services in Dubai, which is an improvement over the challenges companies say they’ve faced in the U.S. under “Operation Chokepoint 2.0.”

加密公司報告說，在迪拜更容易獲得銀行服務，這是對公司在美國所面臨的挑戰的改進，這是“ Chokepoint 2.0行動”。

Hong Kong makes crypto hub push with retail access and staking ETFs

香港與零售訪問和Stage atfs的Crypto Hub推動

Hong Kong has long acted as a financial gateway to mainland China, where crypto activities like mining and trading remain banned.

香港長期以來一直是通往中國大陸的金融門戶，在那裡採礦和貿易等加密活動仍被禁止。

Previously, the city had a voluntary licensing regime, when only OSL and HashKey were licensed to serve institutions and professional investors. In Hong Kong, professional investors are legally defined as those with portfolios worth at least 8 million Hong Kong dollars (about $1 million).

此前，該市有一個自願許可製度，當時只有OSL和Hashkey被許可為機構和專業投資者服務。在香港，專業投資者在法律上被定義為具有價值至少800萬個香港（約100萬美元）的投資組合的投資者。

It was later updated to the mandatory regime, launched in 2023, which opened the doors to retail.

後來，它更新到2023年推出的強制性制度，該制度打開了零售的大門。

The shift to mandatory licensing marked a turning point. OSL and HashKey became the first exchanges authorized to serve retail investors, while firms like Bybit and OKX withdrew their applications and exited the market. As of now, 10 platforms are licensed, while 15 have either withdrawn or been rejected.

向強制許可的轉變標誌著轉折點。 OSL和Hashkey成為授權為零售投資者服務的第一批交易所，而Bybit和Okx等公司撤回了其應用程序並退出了市場。截至目前，有10個平台已獲得許可，而15個平台已撤回或被拒絕。

Hong Kong has made further strides with the listing of Bitcoin and Ether (ETH) ETFs, and recently approved staking within Ether ETFs, which is not yet permitted in the U.S. It has also introduced stablecoin sandboxes under the supervision of the Hong Kong Monetary Authority to trial approved digital assets in a controlled environment.

香港在比特幣和乙醚（ETH）ETF的列表中取得了進一步的進步，最近批准在Ether ETF中籤約，在美國尚未允許的Ether ETF中，它還在香港貨幣當局的監督下也引入了Stablecoin沙箱，可以在受控的環境中試用了批准的數字資產。

“Sandboxes are an experiment, so too are staking ETFs

“沙盒是一個實驗，含有ETF的含有