Singapore Leads Crypto-Friendly City Ranking; Regulation and Infrastructure Key

Singapore ranks first in the 2026 global Most Crypto-Friendly City Index, ahead of traditional financial centers like London and New York. The Asia-Pacific region also performed strongly, taking six of the top 10 spots, reflecting Asia's growing influence in attracting digital asset capital, entrepreneurs and infrastructure.

This ranking, released earlier this month by Multipolitan, a cross-border flows research platform, evaluates global cities on regulatory clarity, tax efficiency, institutional infrastructure, and real-world adoption.

Multipolitan CEO Nirbhay Handa said Singapore's top ranking 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 global top 10. Multipolitan believes this reflects growing competitiveness in digital assets across Asia-Pacific, particularly in licensing regimes, stablecoin and exchange-traded fund (ETF) frameworks, digital-native consumer groups, and more competitive tax environments.

Low Tax Rates No Longer the Only Factor; Regulation and Infrastructure More Crucial

Multipolitan noted that low tax rates alone are no longer sufficient to sustain long-term crypto competitiveness. The best-performing cities typically combine transparent governance, reliable licensing pathways, institutional-grade infrastructure, and high daily usage.

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

The index also prioritizes infrastructure that is already in place, not just policy announcements. Multipolitan cited Singapore's regulated stablecoin framework, Hong Kong's spot virtual asset ETFs, Dubai's licensed virtual asset service provider ecosystem, and merchant and government payment integration as factors supporting the cities' rankings.

The Monetary Authority of Singapore published a regulatory framework for stablecoin issuance in Singapore in 2023. This framework has not yet become formal law, but the authority has indicated it will proceed with legislation.

The Multipolitan index also shows that Hong Kong continues to consolidate its position through exchange licenses and institutional product expansion. Thailand is building a competitive edge through regulatory sandboxes and tax exemptions. Dubai ranks high due to zero personal income tax and relatively clear regulatory infrastructure under the Virtual Assets Regulatory Authority.