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- Coincub recently conducted a study that signified that Germany is the most crypto-friendly country as of Quarter one of 2022.
- Singapore and the US stand in the second and third position followed by Australia and Switzerland.
- It is ironic that the European nation which is said to be most crypto-friendly, Portugal, had no mention in Coincub’s top 10 list.
Coincub, the digital asset exchange aggregator conducted a study that signified that Germany is the most crypto-friendly country as of Quarter one of 2022. Following Germany is Singapore in the second position and then comes the US.
Germany Outperformed Singapore in Q1 2022
Coincub highlighted the ranking of the top crypto enthusiasts nations has witnessed over the past months. It cited that Germany’s acceptance of digital assets and groundbreaking decision to facilitate crypto investments placed it in the first position for the first quarter this year.
An instance that highlights the nations’ crypto-friendly stands is the largest financial group in Germany, Sparkasse’s intentions to provide digital asset opportunities to its roughly 50 million clients.
Whereas, Singapore which stood in the first position in the last quarter of 2021 is in the second position now. The top five names also comprise Australia and Switzerland.
According to Sergiu Hamza, the CEO of Coincub, his company strives to enable the most accurate picture of the latest crypto trends. Coincub utilizes a scoring methodology to rate primary categories like fraud cases, talent meaning the availability of digital asset courses by leading institutions, and the numbers of ICOs in each country.
And that as events develop, they go beyond legislation or pure numbers and introduce new dimensions that are crucial for defining a country’s maturity or crypto friendliness.
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Apart from these, some others who have developed an optimistic approach towards the asset class are France, the Netherlands, and Spain. Furthermore, there has also been an increase in cryptocurrency transactions and the development of blockchain startups.
However, it is ironic to see that the European nation which is said to be most crypto-friendly, Portugal, had absolutely no mention in Coincub’s top 10 list.
Recently, a Portugal-based financial institution Bison Bank acquired a license from the Portuguese central bank (Banco de Portugal) to function as a virtual asset service provider (VASP). This move marked it to be the first bank in the country to be given a seal of approval by the regulator.
Countries worldwide are changing their opinions regarding the asset class, and it is to look forward if the list further changes in the coming quarters.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
