A new report from cryptocurrency analysis business Coincub sheds light on the world’s most hospitable markets for the digital asset sector.
According to Coincub’s newest research, Germany has surpassed Singapore as the most crypto-friendly nation on the planet.
The analytics company cites a number of significant changes over the last year that contributed to Europe’s biggest economy surpassing Singapore.
“Germany is already one of the most cryptocurrency-friendly nations in the world. Apart from the US, the nation also boasts the most Bitcoin nodes, but with a lower population and GDP, suggesting an even stronger devotion to crypto. Several excellent developments have occurred during the previous several months.
The Federal Financial Supervisory Authority granted Coinbase’s German subsidiary a crypto custody business license earlier this year. Deutsche Boerse, the German stock exchange operator, has also launched more than 20 cryptocurrency exchange-traded instruments on its digital exchange, Xetra. The Sparkasse savings bank exploring the possibility of selling wallets for bitcoin trading is a significant step toward institutional adoption.”
The United States is presently placed third, after Singapore, Australia, Switzerland, and Hong Kong. According to Coincub, the United Arab Emirates (UAE) has joined the list, coming in at number 22 after previously adopting a harsh line against cryptocurrency, prohibiting trading and other activities. India has climbed to number 19, however, as Coincub notes, the country continues to struggle with uncertain government policies.
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