Despite setbacks, optimism remains for Asia’s digital assets

High profile setbacks for FTX and Binance are unlikely to stop the potential of tokenisation, stablecoins and digital bonds in the region, but progress will come with greater regulatory scrutiny.

Konoly Konoly
Jan 31, 2024 - 21:01
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Despite setbacks, optimism remains for Asia’s digital assets

High profile setbacks for FTX and Binance are unlikely to stop the potential of tokenisation, stablecoins and digital bonds in the region, but progress will come with greater regulatory scrutiny.

January 30, 2024

From crypto winters to high profile bankruptcies and regulatory clampdowns, the past 12 months has seen crisis after crisis for the crypto industry. However, where the financial industry is concerned, there is still optimism on the growth of the digital assets as a whole.

Chainalysis, a blockchain data platform, characterised FTX’s fiasco as “a failure in governance, not a failure in crypto”, which highlighted the need for regulatory frameworks and the right governance structures. And anoher large crypto exchange, Binance, had its own issues with several US regulators last year, with founder Changpeng Zhao, known as CZ, stepping down as chief executive officer of the firm after pleading...

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