Asian countries differ in their approaches of attempting to manage and prevent crypto crises.
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(Bloomberg) — Ask any regulator and they’ll tell you the same thing: they have a tough job. As soon as they seem to have a grasp on whatever the last crisis was, some new thing comes along and blows up in the patch they were responsible for. But that doesn’t mean they all take the same approach to managing and preventing crises. Consider crypto: so many different vintages of debacle, so many different countries involved.
In late 2022, Hong Kong updated its crypto regulations in a way that signaled a goal of increasing retail access to the asset class. In sharp contrast, nearby Singapore tightened regulations after big losses this year for retail investors. Korea, still dealing with the aftermath of the collapse of the Terra/Luna tokens, is currently focusing on enforcement. And India, somewhat uniquely in the region, is using tax policy to drive behavior.
Bloomberg senior editor for crypto Sunil Jagtiani joins the show to talk about how different Asian countries are approaching crypto regulation in the shadow of the FTX collapse.
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This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad.
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