Germany and the United States are the most crypto-friendly countries, says Coincub
Germany retains its number one position as one of the most crypto-friendly nations, according to Coincub. But this time, Germany shares the crown with the United States. Switzerland moves up to third place in the latest Q2 ranking for 2022.
The latest report from Coincub can do better than the latest report. Our German team completely disagreed with the results. However, Coincub says Germany is still in the top spot, along with the United States.
“Both Germany and the US scored strongly across several calculations. Germany took first place in the 2022 Q1 ranking, driven by the unique decision by the savings bank Sparkasse to allow Bitcoin investments. The US has followed closely on their heels, but has still not Germany’s score could be boosted in Q3 by the EU’s new regulatory framework for crypto, entitled Markets in Crypto-Assets (MiCA).
Germany vs USA
Coincub is working on the assumption that Biden’s pressure for better regulation of cryptocurrency, together with the creation of laws against money laundering, will give the US a boost this quarter.
The US also topped the list due to moves from Fidelity, a pension and investment giant, which announced in April that it would take on crypto. Cryptocurrencies will be included in the portfolios of their pension funds.
Coincub said: “This is just as groundbreaking approval of Bitcoin as the one from the Sparkasse savings institution in Germany.”
Germany, USA, Switzerland, Singapore, Australia
Switzerland has moved to third place thanks to progressive legislation and high trade volumes. Coincub said: “The Swiss ranking was improved by the canton of Lugano’s decision to use bitcoin as a de facto legal tender. In Lugano, bitcoin can now be used for everything from watches to taxes.”
Singapore is in fourth place. “The city-state took first place in the 2021 Q4 ranking, but has since ceded to other countries. Singapore remains a cryptocurrency center thanks to a high concentration of crypto holders and ICOs. Restrictions on third-party advertising to virtual asset service providers (VASPs) have reduced the score. ยป
Australia in Q2 2022 fell to fifth. Coincub said the country was simply bypassed.
Movements
Sergiu Hamza is the CEO of Coincub. “In the quarterly ranking, all government measures increase to legitimize crypto investments, protect consumers and consolidate the strategy of a country’s crypto economy and score high within our ranking criteria.”
Coincub claims that their recent rankings have taken into account the recent market declines in cryptocurrencies, plus other data. “These include the government’s guidelines for cryptocurrency, current legislation, taxes, investment, blockchain education courses, crypto start-ups and the status of the CBDC. These criteria provide a comprehensive overview of the crypto economy and blockchain acceptance in any country.”
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