Singapore Ranks First in Crypto-Friendly Cities: Regulatory Transparency and Infrastructure

Singapore ranked first in the 2026 global 'Most Crypto-Friendly Cities' index, ahead of traditional financial centers like London and New York. Asia-Pacific overall performed strongly, taking six of the top 10 spots, reflecting Asia's growing influence in attracting digital asset funds, entrepreneurs, and infrastructure.

The ranking, published by cross-border mobility research platform Multipolitan earlier this month, evaluated cities on regulatory clarity, tax efficiency, institutional infrastructure, and actual adoption.

Multipolitan CEO Nirbhay Handa said: 'Singapore's leading position reflects a deeper structural shift in global finance. Crypto competitiveness is increasingly determined not by speculation, but by regulatory predictability, operational infrastructure, and capital efficiency.'

Besides Singapore, Hong Kong, Bangkok, Seoul, Kuala Lumpur, and Taipei also entered the top 10. Multipolitan said this reflects Asia-Pacific's growing competitiveness in digital assets, especially in licensing regimes, stablecoin and ETF frameworks, digital-native consumer bases, and more competitive tax environments.

Low Tax Rates No Longer Sole Factor: Regulation and Infrastructure More Critical

Multipolitan noted that low tax rates alone are insufficient for long-term crypto competitiveness. Top-performing cities typically combine transparent governance, reliable licensing pathways, institutional-grade infrastructure, and high daily usage.

The platform calls this model 'low tax, high credibility' and believes it distinguishes modern digital asset hubs from traditional financial centers. The latter, while mature, may have higher compliance complexity that limits innovation, capital formation, and ecosystem development.

The index also focuses on infrastructure already in place, not just policy announcements. Multipolitan cited Singapore's regulated stablecoin framework, Hong Kong's spot virtual asset ETFs, Dubai's licensed VASP ecosystem, and merchant/government payment integration as key factors.

In 2023, the Monetary Authority of Singapore published a regulatory framework for stablecoin issuance in Singapore. While not yet law, MAS indicated legislative work will follow.

Regionally, Multipolitan noted Hong Kong continues to consolidate its position through exchange licenses and institutional product expansion. Thailand is gaining competitive edge via regulatory sandboxes and tax exemptions. Dubai ranks high due to zero personal income tax and clearer regulatory infrastructure under the Virtual Assets Regulatory Authority.