Germany is the no. 1 crypto-friendly country worldwide, study shows

Germany is the no. 1 crypto-friendly country worldwide, study shows
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Germany is the no. 1 crypto-friendly country worldwide, study shows

Germany was fourth last year in Coincub’s crypto-friendly ranking. Now, it is ranked number one.

04/15/2022

Germany is the no. 1 crypto-friendly country worldwide, study shows

Germany is ranked as the most cryptocurrency-friendly country worldwide for Q1 2022, cryptoanalysis platform Coincub revealed.

Coincub determined the ranking of 46 countries. According to its 2022 Global Crypto Ranking report, the researchers used quantitative figures. 

Among the top 10 crypto-friendly countries are Singapore, the United States, Australia, Switzerland, Hong Kong, Netherlands, France, Canada, and Japan.

Germany: The most crypto-friendly nation

The researchers gathered and analyzed data by considering “mining volumes, crypto trading, government legislation, central banks’ institutional stances, and local financial services, taxation, educational awareness about digital currencies, and ICOs’ commitment to environmental issues.”

Speaking of Germany, the country ranked fourth last year in Coincub’s crypto-friendly ranking. Germany’s financial institutions view virtual assets as a long-term investment for domestic savers. 

Meanwhile, Daily Coin cited that “their conglomerate is also on a verge of opening  access to crypto transactions.” The report added that it would allow 50 million clients to trade and hold digital currencies if approved.

“The groundbreaking decision to make crypto investments part of its huge domestic savings industry signals institutional acceptance at a high level and a bright future for crypto in Germany,” the study stated.

Global progress of cryptocurrency

Singapore is ranked second for being a progressive crypto economy. Last year, the country held the first spot as it led the mining hashrate charts. 

But, Singapore fell to the second spot because of its strict governmental regulations on digital currency promotions and Bitcoin ATMs. 

Coincub’s researchers highlighted, “Singapore, however, remains a crypto and blockchain powerhouse, but at the moment moves down to number two.”

Moreover, the United States is another leading crypto economy. The country is in third place as a crypto-friendly economy. 

Based on Coincub’s report, a specific regulatory vision of the United States for digital currency instead of prohibition contributes to its placement on the chart.

By Marielle Petere Wozinga Staff

The United States has clear regulatory vision for digital currency instead of prohibition. Do you agree?

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