哈萨克斯坦，马尔代夫和巴基斯坦最近概述了将自己定位为加密枢纽的野心

投入：哈萨克斯坦，马尔代夫和巴基斯坦最近概述了将自己定位为加密枢纽并建立数字经济体的野心。

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

包括哈萨克斯坦，马尔代夫和巴基斯坦在内的几个国家最近概述了将自己定位为加密枢纽并建立数字经济体的野心。

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，全球加密企业对新加坡，阿拉伯联合酋长国，香港，美国和英国等既定金融中心都更加熟悉，这些中心正在积极争夺世界领先的加密枢纽。

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

为了浏览这一竞争格局，每个枢纽都强调了其独特的优势并适应以应对弱点。

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

这是他们中的五个支持他们的加密梦想的方式。

Singapore: The crypto hub with parental guidance

新加坡：带有父母指导的加密枢纽

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.

新加坡是一个著名的金融枢纽，拥有AAA信用评级，较低的公司税率和亲企业法规。随着数字资产的出现，狮子城是加密枢纽枢纽竞赛的领先者之一。

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.

新加坡是加密法规的早期采用者。其2019年的《付款服务法》（PSA）于2020年生效，是亚洲首个涵盖加密货币活动的首个综合法律框架之一。

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“数字付款令牌”（DPT）一词来表示可以通过电子方式传输，存储或交易的价值的数字表示，例如加密货币。

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.

在撰写本文时，有33个DPT服务提供商获得了新加坡货币管理局（MAS）的许可，该公司是城市国家的中央银行。新加坡和总部位于香港的Spartan Group的联合创始人卡斯珀·约翰森（Casper Johansen）指出，许可证批准的速度已经以测量的速度移动，从而使迪拜这样的更快移动的轮毂可以追赶。

“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.

约翰森说：“新加坡比零售金融枢纽更像是机构财务中心。”

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.

对零售营销的禁令并未影响新加坡作为全球加密枢纽的地位。加密公司选择在新加坡成立低透明税，强大的监管框架和法治，世界一流的专业服务，易于生活和全球连通性，”约翰森补充说。

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.

但是最近出现了裂缝，尤其是在移民和招聘政策方面。 2024年底，当区块链分析公司Nansen的Alex Svanevik的首席执行官Alex Svanevik的首席执行官分享说，他被拒绝了永久居留权。由于对外国劳动的政治敏感性日益增加，政府已加大了努力，以优先考虑当地招聘。

UAE rolls out the welcome mat for crypto hub status

阿联酋推出了加密集线器状态的欢迎垫

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

与其他加密枢心枢纽竞争者不同，迪拜具有专用的虚拟资产调节器，即虚拟资产监管机构（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.

它的广泛许可制度也为NFT平台提供了明确的指导原则，即欧盟这样的主要经济体尚未解决。欧盟在加密资产（MICA）框架中的市场目前不包括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的清晰度吸引了对其他地方监管不确定性感到沮丧的公司。 Binance是没有官方总部的无边界交流，不得不重新考虑在全球监管压力下的模型，而交流与阿联酋的联系一直在增长。

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.

自由区阿布扎比全球市场前首席执行官理查德·滕（Richard Teng）接任赵之后的首席执行官，并最近暗示，阿联酋是交易所总部的有力候选人，尽管尚未做出决定。

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.

阿联酋还提供自己的激励措施，例如没有个人所得税和免费区域，例如迪拜多商品中心（DMCC）和迪拜国际金融中心（DIFC）提供0％的公司税优势和100％的外国所有权。

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.”

加密公司报告说，在迪拜更容易获得银行服务，这是对公司在美国所面临的挑战的改进，这是“ Chokepoint 2.0行动”。

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

香港与零售访问和Stage atfs的Crypto Hub推动

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

香港长期以来一直是通往中国大陆的金融门户，在那里采矿和贸易等加密活动仍被禁止。

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，该市有一个自愿许可制度，当时只有OSL和Hashkey被许可为机构和专业投资者服务。在香港，专业投资者在法律上被定义为具有价值至少800万个香港（约100万美元）的投资组合的投资者。

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

后来，它更新到2023年推出的强制性制度，该制度打开了零售的大门。

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.

向强制许可的转变标志着转折点。 OSL和Hashkey成为授权为零售投资者服务的第一批交易所，而Bybit和Okx等公司撤回了其应用程序并退出了市场。截至目前，有10个平台已获得许可，而15个平台已撤回或被拒绝。

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.

香港在比特币和乙醚（ETH）ETF的列表中取得了进一步的进步，最近批准在Ether ETF中签约，在美国尚未允许的Ether ETF中，它还在香港货币当局的监督下也引入了Stablecoin沙箱，可以在受控的环境中试用了批准的数字资产。

“Sandboxes are an experiment, so too are staking ETFs

“沙盒是一个实验，含有ETF的含有