- Singapore and Hong Kong both seem more enthusiastic about digital assets.
- Despite bearish sentiment in the year, Asian office families still hold or invest in crypto.
- Investors however worry about the regulation of digital assets.
Digital assets, a trillion-dollar market for alternative assets, have grown significantly over the past few years. An extensive number of family offices and high-net-worth individuals (HNWI) are either interested in investing in the sector of digital assets or have already done so, according to a KPMG poll. Asian nations Singapore and Hong Kong both seem more enthusiastic about digital assets.
Institutional investors have entered the market as a result of the enormous expansion that has caught the public’s attention. Although certain digital assets have seen huge price changes, market volatility has been a characteristic.
Cryptocurrency price volatility peaked in the first half of the year but has since leveled out. Investors claimed that the assets continued to be a desirable hedge against broader market turbulence.
“We never lost interest in crypto,” said Keith Wong, chief executive of Hong Kong-based multi-family firm Winland Wealth Management. “We see it as diversification and a separate asset class.”
Many of the respondents also made investments in service providers so they might gain from exposure to market expansion in general. The main worries of investors regarding the regulation of digital assets and their handling for tax reasons are also covered in the survey.
Further, the Hong Kong securities regulator recently declared its intention to relax present regulations on cryptocurrency trading. It also lets individual investors make direct investments in digital assets.
On the other hand, the Monetary Authority of Singapore (MAS) has increased access to cryptocurrency trading for authorized investors. Numerous exchanges have received preliminary clearance to offer services related to digital payment tokens in the city-state.
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