Meng Yan: The Development Momentum of Hong Kong's Crypto Industry Has Surpassed Singapore "(Author: Meng Yan) Hong Kong has surpassed Singapore in terms of industry heat, talent inflow, and market activity, driven by the stablecoin and RWA boom. In contrast, Singapore's cryptocurrency development momentum has weakened due to regulatory tightening, the new government's preference for AI, and external prudent considerations. Hong Kong has taken advantage of the situation to break through and attract a large number of projects and practitioners. Meng Yan believes that globally