According to Coincub, Germany ranks in the number one position as one of the most crypto-friendly regions in Europe. However, Germany runs in parallel with the USA. Switzerland goes to third place in the latest Q2 rankings for 2022.
According to the latest report by Coincub, the German team disagreed about the results presented in the rankings of the most crypto-friendly region in Europe. However, Coincub says that Germany still ranks first along with The United States of America.
Both Germany and The United States of America ranked through various metrics. Germany achieved first place in the 2022 Q1 ranking, powered by the unprecedented decision of saving institution Sparkasse to allow Bitcoin investments.
The USA followed the European nation as the second in line but still hasn’t obtained the chance to surpass the said nation. Germany’s score might experience a boost in Q3 following the new regulatory procedure for crypto, titled: Markets in Crypto-Assets, conducted by the European Union.
Germany and North America
Coincub got these results assuming Biden’s push for better regulation regarding crypto, alongside the creation of anti-money laundering policies that will give the U.S. an improvement in the way they work with crypto this year.
The USA also entered the chart due to decisions made by Fidelity regarding pensions, highlighting in April that they would start trying crypto. Digital assets will become a vital part of the portfolios of their pension funds.
Coincub said that this situation is an endorsement of Bitcoin, and the same goes for the Sparkasse savings institution in Germany.
The final Ranking: Germany, USA, Switzerland, Singapore, Australia
Switzerland achieved third place due to solid legislation pointing at progress; this country also acquired skills to improve its high trading volumes. Coincub highlighted that The Swiss ranking got modified by the Canton of Lugano’s decision to employ bitcoin as legal tender. In Lugano, bitcoin can now serve to acquire everything, even taxes.
Singapore obtained fourth place in the ranking. The city-state achieved first place in the 2021 Q4 ranking but has, since then, given space to other regions. Singapore is still a crypto powerhouse due to a high concentration of crypto holders and ICOs. Obstacles to the third-party advertising of virtual asset service providers (VASPs) have lowered their numbers.
Australia in Q2 2022 crumbled to fifth place. Coincub said the country got overtaken.
More and More Movements
Sergiu Hamza is the Coincub CEO. He said that in the quarterly rankings, all moves from administrations to give legitimacy to crypto investment, safeguard consumers, and consolidate plans to boost a country’s economy based on crypto assets get a score based on their ranking criteria.
Coincub expressed that their latest rankings have already considered the recent market Crashdown in crypto prices, plus other significant data. These aspects might include government policies toward digital assets, current legislation, methods to pay taxes, investments, blockchain education courses, startups linked to the crypto space, and the status of CBDCs.
These factors might bring a more comprehensive view of the crypto economy and blockchain acceptance within every single region worldwide.
By: Jenson Nuñez
