Report Ranks Germany as the Most Crypto-Friendly Nation

  • According to a recent report from Coincub, Germany has become the most crypto-friendly country on the planet this year.
  • Coincub conducted research in 46 countries before naming the world’s top five digital currency-friendly countries.
  • As per the report, the world’s top five crypto-friendly countries are Germany, Singapore, the United States, Australia, and Switzerland.

According to a recent report from Coincub, the cryptoanalysis platform, Germany has become the most crypto-friendly country on the planet this year. Coincub conducted research in 46 countries before naming the world’s top five digital currency-friendly countries. As per the report, the world’s top five digital currency-friendly countries are Germany, Singapore, the United States, Australia, and Switzerland.

The researchers used quantitative figures such as crypto trading and mining volumes, as well as government legislation, institutional stances held by central banks and local financial sectors, taxation, education, and even the commitment of ICOs to environmental issues, to determine the rankings.

The exchange aggregator cited Germany’s positive attitude toward cryptocurrency trading and investment as the reason for the country’s three-place jump from last year. It has more Bitcoin nodes per capita than the United States and has seen a number of positive developments in recent months. The developments are as follows:

  • Earlier this year, the Federal Financial Supervisory Authority granted Coinbase’s German subsidiary a crypto custody business licence.
  • Deutsche Boerse, the German stock exchange operator, has listed more than 20 crypto exchange-traded products on its digital exchange, Xetra.
  • The Sparkasse savings bank is considering offering cryptocurrency wallets.
Others From The Top 5

Singapore, the previous leader, lost its crown as a result of the Monetary Authority of Singapore tightening its guidelines on virtual asset service providers, resulting in fewer Bitcoin ATMs in the country.

The United States and Australia came in third and fourth place with Coincub praising both countries for their efforts to regulate rather than prohibit the use of cryptocurrencies. Switzerland rounded out the top five because it remains committed to technological innovation, as evidenced by the inclusion of ETH in BBVA Switzerland’s crypto-asset service and the declaration of Bitcoin as legal tender in Lugano.

Chaahat Girdhar
Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.

Newsletter

Crypto News, NFTs and Market Updates

Crypto Products

Can’t find what you’re looking for? Type below and hit enter!

Can’t find what you’re looking for? Type below and hit enter!