Germany Has Dethroned Others To Become The Most Crypto-Friendly Country In The World
Germany beats out countries like Singapore to become the world’s most crypto-friendly country. Germany won the global crypto rating for Q1 2022, according to Coincub. One of the main reasons for the throne was the country’s pioneering move to integrate bitcoin investments in a large portion of domestic savings.
The event revealed institutional acceptance as well as Germany’s exquisite crypto future. The Coincub report ranked 46 nations based on a variety of characteristics, including initial coin offerings, fraud prevention measures, and crypto courses offered by local institutions. Etc.
Germany outranked 46 countries
Germany was ranked at the fourth place last year. But the country has sprinted its way ahead of other nations. Singapore, which was ranked 1st, previously stepped down to the second-ranking after the government imposed restrictions on Virtual asset service providers’ crypto services and Bitcoin ATMs.
In terms of domestic mining, the United States comes in first, but third overall. Germany appears to be trying to be at the vanguard of global crypto adoption, with KuCoin reporting last month that 16 percent of Germans aged 18 to 60 own or had traded crypto in the previous six months. A whopping 41% of investors intend to increase their investments in the future.
The German magazine Capital revealed in December that the savings bank is considering launching a bitcoin trading wallet. Deutsche Boerse, Germany’s stock exchange operator, has listed over 20 crypto exchange-traded products.
The countries that did not rank well in the previous assessment appear to be overthrowing their successors. Countries such as the Netherlands, France, and Spain have improved their rankings from previous years. The United Arab Emirates, which had strict crypto laws and bans in place, has begun to impose more friendly crypto rules, moving up to 22nd place.
China’s name stands out among the countries with the lowest rankings due to the country’s decision to prohibit crypto trade and mining.
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