Global Crypto Ranking: Germany and the USA are recognized as the most loyal countries to crypto
The second quarter of 2022 was difficult for the cryptocurrency industry. But this did not prevent the analysts of the Irish company Coincub from rolling out another Global Crypto Ranking report. The first place in the ranking of the most loyal countries to cryptocurrencies was shared by the leader of the rating of the last quarter - Germany and (quite unexpectedly, but naturally) - the United States.
To assess the countries, the company's specialists examined 46 countries according to eight important criteria:regulation, the availability of financial services, the population, the tax base, the spread of cryptocurrencies, convenience for traders, the number of scams and environmental successes.
This is how the five most loyal economies in the world to cryptocurrencies look like: Germany, the USA, Singapore, Australia, Switzerland.
In the first quarter, Germany made an impressive jump from the fourth position it occupied last year to the top of the quarterly ranking. The key event was Germany's decision to provide the country's savings banks with access to cryptocurrency transactions. This year, the introduction of a service that will allow their clients to trade cryptocurrencies begins. Banks serving about 50 million residents of Germany will begin to offer them trading and storage of digital assets. So everything is clear with Germany - it occupies a leading position by right.
But the US is not far behind. The main achievement was consumer protection along with a more coherent anti-money laundering strategy across the United States. In addition, at the beginning of 2022, there was news that the global investment giant Fidelity could allow bitcoin to be added to the portfolios of American pension funds.
Given the value of Fidelity's assets under management and the number of American companies whose employee pensions are managed by the group, this is a huge step for the cryptocurrency industry, as innovative as the approval of bitcoin by German savings banks.
Singapore, which was in the lead last year, continues to hold an honorable second place in 2022. He lost his first position after he published new rules regarding cryptocurrencies. In January, the Monetary Authority of Singapore (MAS) banned virtual asset service providers from marketing or advertising in public places, social networks or on other platforms.
Despite some decline and strange bans, Singapore is still the leader of the crypto economy with a large number of ICOs and people owning cryptocurrencies.
Australia holds its position in the top five due to the fact that its government is supportive of cryptocurrency payments. A large number of ICOs, crypto exchanges, as well as many educational courses on blockchain and cryptography in leading universities of the country also speak in favor of Australia. A large number of P2P transactions indicates the popularity of cryptocurrency payments among citizens of the country.
Switzerland is steadily rising in the ranking thanks to progressive legislation and high trading volumes in the country. Also, her position in the rating was influenced by the unexpected announcement in March 2022 that in the city of Lugano it is now possible to use bitcoin for regular payments, including taxes, which actually repeats the law on the adoption of bitcoin in El Salvador. There are about 1,000 virtual asset service providers (VASPs) in the country, and there is also a BIS FinTech innovation center. And there are relatively many bitcoin ATMs in the country.
https://coin-signal.com/cryptonews/global-crypto-ranking-germany-and-the-usa-are-recognized-as-the-most-loyal-countries-to-crypto/
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