China’s special administrative region, Hong Kong, is globally ranked with a score of 8.6 out of 10. to cryptocurrencies ranked first as the most prepared country.
The previous leader, the United States, was in second place, while Switzerland came in third.
Changes Happened at the Summit of Crypto-Friendly Countries
The latest worldwide report on cryptocurrency adoption explored the number of Blockchain startups in each country, digital asset regulations and taxation rules, number of ATMs, and industry interest per capita. As a result, Hong Kong was determined to be the most crypto-ready country at the moment.
Hong Kong local government is very open to the industry and does not impose taxes on investors and businesses that profit from digital currency trading.
Thanks to its small footprint, there are two machines for every 100,000 people, bitcoin The density of its ATMs is among the highest. Overall, the country achieved a score of 8.6 out of 10.
The USA, the world’s largest economy and the previous leader in this race, collected 7.7 points. There are over 33,000 crypto ATMs in the country, meaning ten devices per 100,000 people.
USA and Switzerland took the second and third places, respectively.
Switzerland followed suit with a result of 7.5 points. Known as one of Europe’s financial hubs, the country does not tax crypto earnings and is home to numerous blockchain startups.
It should also be noted that earlier this year, the authorities of the southern Swiss city of Lugano revealed their intention to use Bitcoin (BTC), Tether (USDT) and LVGA Points as legal tender.
Other countries in the top 10 include Georgia, UAE, Romania, Croatia, Ireland and the Czech Republic. Tenth place is shared between Slovakia, Greece, Panama and Bulgaria.
The research also touched upon the interest shown by different nations in the digital asset sector. Australia ranked first here as 4,579 out of 100,000 people searched for “cryptocurrency” on Google. Ireland is second with 3,472 searches, and the UK is third with 3,409 searches.
*Not investment advice.