East Asian countries plan to establish the largest “crypto valley” in the world

East Asian countries plan to establish the largest “crypto valley” in the world

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Answer East Asian countries plan to establish the largest “crypto valley” in the world

Japan, the Philippines and South Korea are moving towards creating an Asian cryptocurrency valley, similar to Malta and Zurich. The Valley aims to create an integrated community for blockchain and cryptocurrency companies in a manner appropriate to their needs.

On the other hand, we find that some countries in Southeast Asia such as Vietnam and Thailand are taking action against digital currencies, Thailand for example announced imposing huge taxes on investors in the world of digital currencies.

But with continued domestic pressure from investors and economic and political efforts from its neighbors the Philippines, Korea and Japan to try to relieve pressure on cryptocurrency traders, it seems that Thailand has recently announced its intention to introduce new regulations for ICO projects.

Read:The number of active bitcoin users rises to record levels, coinciding with the decline in prices

It is noteworthy that the Thai Ministry of Economy announced last month the issuance of 25 licenses to companies working in the field of digital currency exchange to relieve pressure as much as possible on traders.

The upcoming “cryptocurrency valley” will not be limited to government investments only, but will also have larger investments by other companies and multiple global platforms.

The Philippines and its Role in the “Valley of Cryptocurrency”

The Philippines has established many advanced companies within the country that are interested in digital currencies and has become widely popular within the country and has achieved unexpected successes in East Asia, and even attracted investments that were heading to other countries such as China, which was surprising and unexpected at all.

South Korea also has big rounds to make the slated “Crypto Valley” a success because the business environment in South Korea is attractive to projects.

Also, the greater preparation being prepared in the “Valley of Digital Currency” has received approvals from the regional governments of the participating Asian countries in general, and the participating countries aim to create a unified cryptocurrency for the country that will be used as widely as possible.

Read:A Reddit user made over $24,000 worth of bitcoin this way

Asian countries seem to have a hidden eagerness to take the lead in all matters related to cryptocurrency trading, and it seems that they have found in blockchain technology their desired goal.

Additional Reasons to Create a “Cryptocurrency Valley”

Japan, for example, is among the largest global markets in the cryptocurrency trading industry after the United States, and the Asian trading rate is the largest in the world.

Read:What are the reasons for the price of Bitcoin falling to new levels?

The most important reason for encouraging this step is that the entire Asian continent has turned into the largest market for smart devices and modern technologies, and the efforts made recently will inevitably affect the economies of countries in the long run positively.

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