In its latest quarterly report, crypto analytics firm Coincub puts Germany on the top spot when it comes to the most crypto-friendly nation in the world.
Highlighting a number of major developments in its 2022 Q1 Crypto Ranking Guide, the report explains why the West-European powerhouse has overtaken Singapore’s number one position.
“Germany is already one of the world’s most crypto-friendly countries. The country also has the highest number of Bitcoin nodes besides the US, but with a smaller population and GDP demonstrating an even greater commitment to crypto. There have been several positive developments over the last few months.
The Federal Financial Supervisory Authority issued a crypto custody business license for Coinbase’s German arm earlier this year. German stock market operator Deutsche Boerse has also listed more than 20 crypto exchange-traded products on its digital exchange, Xetra. The Sparkasse savings bank looking into offering wallets to trade crypto is a huge step for institutional acceptance.”
Coincub’s top five is completed with Singapore ranked second, the United States in third place, followed by Australia and Switzerland.
India, which is currently in the middle of challenging regulatory changes sits on 19th place. The United Arab Emirates (UAE) is a newcomer on the list on 26nd.
Although ‘Bitcoin Nation’ El Salvador that made Bitcoin legal tender on September 7 2021 is still in the top five of countries with the most advantageous tax regimes, it lost its top ten spot of Q4, 2021 and currently ranks 36th.
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