Hong Kong Leads Crypto-Ready Region In The World For Second Year Running

Key Points:

• Hong Kong maintains its top spot as the world’s most crypto-friendly region for a second year.
• Switzerland rises to second place, while the United States falls to third in the global crypto readiness rankings.
• New entrants include Slovenia and Canada in the top 10, with high crypto interest in the Netherlands and Singapore.

In the latest Crypto Readiness Report for 2023, Hong Kong has once again asserted its dominance as the world’s most crypto-ready region, securing the top spot with a Crypto Readiness Score (CRS) of 8.36. This marks the second consecutive year that Hong Kong has maintained its leadership position in this ranking.

The report, which assesses various factors such as the presence of cryptocurrency infrastructure, accessibility, and legal support, revealed that Hong Kong faced stiff competition from other leading countries. Switzerland made a significant leap, securing second place with a CRS of 8.18, while the United States dropped to third place with a CRS of 7.25, experiencing a 6.5% decrease from the previous year.

This year’s rankings also unveiled five newcomers in the top 10, including Slovenia and Canada, which claimed fourth and sixth place, respectively. Australia climbed eight spots to secure seventh place, while Germany and Bulgaria tied for eighth place. Notably, Switzerland’s rise to second place since 2022 reflects its growing reputation as a major cryptocurrency hub.

The report highlighted that residents of the Netherlands and Singapore displayed the highest interest in cryptocurrencies, while Estonia, Singapore, and Switzerland boasted the largest number of cryptocurrency companies.

Hong Kong‘s top position in the crypto readiness rankings can be attributed to its rich history as a trade and commerce center, now extending to the cryptocurrency economy. Crypto traders in Hong Kong benefit from a 0% tax rate, a substantial number of crypto ATMs, and a thriving blockchain and crypto industry.

Meanwhile, the United States, a global economic powerhouse and technology hub, continues to be a key player in the crypto world with a high number of crypto ATMs nationwide.

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