A recent study conducted by digital asset exchange aggregator Coincub has announced Germany as the most crypto-friendly nation in the world for Q1, 2022. Singapore, which held the number one spot in the previous study, came in at number two while the US took the third position.
Coincub stated that the rankings of the top crypto-friendly nations have changed consistently over the past several months, an indication of the improving perception of cryptocurrency. The crypto analytics platform detailed: “Germany’s acceptance of cryptocurrency and groundbreaking decision to allow crypto investments placed it in the first position for Q1, 2022.”
One good example of Germany’s pro-crypto stance is the intention of Sparkasse, the largest financial group in Germany, to offer crypto opportunities to its 50 million-strong client base.
As mentioned earlier, Singapore ranked second, while the US took the third position as the country with the most pro-crypto stance. Australia and Switzerland occupy the fourth and fifth positions, respectively.
Coincub Study Tracks Crypto Trends Across the Globe
Coincub CEO Sergiu Hamza noted that the company’s goal was to highlight the realities of recent crypto trends across the globe. The platform uses a scoring methodology to rank critical categories like fraud cases, crypto-related talent and education, and the number of ICOs within each country. He further noted:
“As events develop, we go beyond legislation or pure numbers and introduce new dimensions that are crucial for defining a country’s “crypto friendliness” or maturity.”
Meanwhile, other countries that recorded notable improvements in their crypto-friendliness ranking on Coincub include the Netherlands, France, and Spain. The analytics platform explained that these countries rose in the rankings because of the positive stances they have adopted toward the crypto industry in recent times. Also, these countries recorded a significant increase in the number of crypto transactions and the creation of blockchain startups.
Switzerland’s ascent into the top ten came primarily from reports that its city, Lugano, planned on accepting Bitcoin as legal tender.
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