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Cryptocurrencies

Thailand and Vietnam emerge as ASEAN crypto trading hot spots

Each country logs over $100bn transactions in a year, topping Singapore

Chainalysis said Thailand and Vietnam saw high web traffic to marketplaces for non-fungible tokens.   © Reuters

SINGAPORE -- Thailand and Vietnam have become the top crypto trading hubs among the 10 members of the Association of Southeast Asian Nations, beating even financial center Singapore, which has been grappling with new legislation to control the nascent sector.

The two ASEAN members recorded over $100 billion each in crypto buying and selling values from July 2021 to June 2022, according to numbers published on Wednesday by blockchain data platform Chainalysis.

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