It is a given fact that three countries make up over 70% of all Bitcoin trades in the world, and in addition to this, represent the majority of all cryptocurrency trading for the sector’s over 1100 forms of virtual currency.
And while China has slowed down their trading volume in the cryptocurrency sphere just a bit due to their recent crackdowns on ICO’s and exchanges, two other markets are vying hard to become the top cryptocurrency center for both the Far East, and inevitably the world.
Japan’s Finacial Services Agency (FSA) announced last Friday that they are endorsing 11 different cryptocurrency exchanges. This sets Japan on a path to becoming the headquarters for everything Bitcoin, especially since China recently crippled their crypto market by banning exchanges. This means Japan now represents one of the most cryptocurrency-friendly countries in Asia. – Bitcoin News
Initial coin offerings are the most talked about, if not the most popular, form of fundraising for cryptocurrency projects around the world – and Hong Kong is starting to get in on the action. In fact, evangelists for cryptocurrencies see ICOs as a way for Hong Kong to regain its place at the forefront of the Asian, and even the global, financial services industry. – South China Morning Post
One nation and market seeks to dominate cryptocurrency trading while the other is working towards dominating the ICO markets. And together they may soon come to be the epicenter of the cryptocurrency industry, especially as more and more governments seek to impose or enforce strong regulations on them.
Source: The Daily Economist