Singapore’s Crypto Economy Grows 55% as China Warns Spies on Blockchain

The three items point in one direction: Asia's digital-asset map is being redrawn by governments, not by markets. Singapore's growth reflects capital and talent preferring a permissive hub, while Seoul's move to legalize market makers shows regulators there treating liquidity provision as infrastructure rather than a grey activity. Beijing's warning is the outlier — it recasts the blockchain as a surveillance surface for counterintelligence, not a financial one. Whether that framing spreads to other jurisdictions watching on-chain activity is the open question.