According to Coincube, Germany retains its number one position as one of the most crypto-friendly countries. Although this time she is sharing the crown with USA. Switzerland has moved up to the third position in the latest Q2 rankings for 2022.
Coincube’s latest report may be better than the previous one. Our German team completely disagreed with the results. However, Coincube says that Germany still holds the top spot along with the United States.
“Both Germany and the US scored strongly in several metrics. Driven by an unprecedented decision by thrift institution Sparkasse to allow bitcoin investments, Germany took first place in the 2022 Q1 rankings. The US has been hard on its heels, But it still hasn’t quite managed to overtake the European nation.Germany’s score could get a boost in Q3 following the EU’s new regulatory framework for crypto titled Market in Crypto-Assets (MiCA).
Germany vs USA
Coincube is operating on the assumption that Biden’s push for better cryptocurrency regulation, along with the creation of anti-money laundering laws, will boost the US this quarter.
USA also moved up the charts due in part to the move by pension and investment giant Fidelity, announcing in April that they would take on crypto. The cryptocurrency will form part of their pension fund’s portfolio.
“It is as important to support bitcoin as it is by the Sparkasse Savings Institute in Germany,” Coincube said.
Germany, America, Switzerland, Singapore, Australia
Switzerland has dropped to third place due to progressive legislation and high trading volume. Coincube said, “The Swiss ranking had improved as the Canton of Lugano decided to use bitcoin as the de facto legal tender. In Lugano, bitcoin can now be used for everything from watches to taxes. Is.”
Singapore is in fourth place. “The city-state took first place in the 2021 Q4 rankings, but has since been handed over land to other countries. Singapore is still a crypto powerhouse for crypto holders and a high concentration of ICOs. The ban on third-party advertising of Virtual Property Service Providers (VASPs) has lowered its score.”
Australia dropped to fifth place in Q2 2022. Coincube said that the country simply went ahead.
movements
Sergiu Hamza is the CEO of Coincube. “In the quarterly rankings, all government steps are taken to legalize crypto investments, protect consumers, and consolidate strategies to boost the country’s crypto economy and score high within our ranking criteria.”
Coincube claims that their latest rankings have taken into account the recent market drop in crypto prices, as well as other data. “These include government policies towards cryptocurrency, current legislation, taxes, investments, blockchain education courses, the status of crypto startups and CBDCs. These criteria provide a comprehensive account of the crypto economy and blockchain acceptance within any country.”
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