Asian crypto traders experienced a rush after Trump won the 2024 presidential election, leading to Bitcoin reaching new all-time highs. Traders across Asia capitalized on this surge, engaging in a profit-taking strategy described as 'buy the rumor, sell the news.' In Singapore, optimism grew within the crypto sector as traders anticipated potential regulatory shifts under Trump, despite some concerns over his previous trade policies. Meanwhile, China's digital yuan initiative continues to advance, with the People's Bank of China reaffirming its commitment to the CBDC, which has been in testing since 2020. Senior officials confirmed the digital yuan as the sole legal digital currency in China, intensifying scrutiny on private cryptocurrencies. South Korea is also making strides, with regulatory bodies discussing issuances of corporate cryptocurrency accounts, highlighting a global trend aimed at integrating corporate entities into crypto markets. Meanwhile, Coinbase announced the establishment of an engineering hub in Singapore as part of its expansion in the Asia-Pacific region, underlining the nation's role as a crypto innovation hub.

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