Hong Kong Ranked As The Most Crypto-Friendly Nation In 2022

Hong Kong ranked as the most crypto-friendly nation in 2022 according to the latest research, while the USA and Switzerland are the follow-up countries that are crypto-ready countries worldwide so let’s read more today in our latest cryptocurrency news.

With a score of 8.6 points out of the 10 in the administrative region of China, Hong Kong ranked as the most crypto-friendly nation and most crypto-ready globally. The second position belongs to the preivous leader like the USA and Switzerland is the third place. The latest worldwide crypto readiness report explored the number of blockchain startups in each country with the digital asset legislation and taxation rules the number of ATMs and the interest in the industry per capita. As a result, it determined that Hong Kong is now the most crypto-ready nation.

The local government is quite open to the sector and doesn’t impose taxes on investors and businesses which generate profits from trading digital currencies. Thanks to the small area, the density of the crypto ATMs is among the highest as there are two machines for every 100,000  people but the state amassed a result of 8.6 points out of 10. the world’s leading economy and previous leader in the race, the USA gathered 7.7 points and the country has over 33,000 crypto ATMs which means that there are ten devices per 100,000 people.

Switzerland followed with a result of 7.5 points with the nation renowned as one of Europe’s financial hubs but doesn’t tax crypto gains and is home to numerous blockchain startups. It is worth mentioning that earlier this year, the authoriteis of the Southern Swiss city Lugano showed intentions to introduce BTC, Tether, and LVGA Points tokens as the legal tender. The remaining countries part of the top 10 include the UAE, Romania, Croatia, Georgia, Ireland and the Czech Republic.

The research touched upon the interest that different nations showed towards the digital asset sector and Australia ranked first here since 4579 people out of 100,000 searched cryptos on Google and Ireland is the second with 3,472 searches and the UK is the third with 3409. One of the most surprising changes compared to the same study conducted in 2021 with the absence of Cyprus and last year, the nation ranked as the second most crypto-ready country while its residents were the most interested in the sector, and this year, it is not even in the top 20.

The UK, Slovenia, and Singapore which were follow-up countries on the list, also dropped out from the leaderboard. The total change of the trend could serve as an example that the interest in the evolving digital assets universe is shifting and is prompted by recent events and domestic regulations.