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- USA takes the number one spot as the world’s top crypto economy.
- Germany slips to second place
- Singapore and Hong Kong move up to third and fourth respectively
In the global crypto rankings for Q4 2022, the USA takes the top spot, edging Germany into second place from its number one position over the previous two quarters.
The global rankings, compiled on a comprehensive metric of data show that Singapore, the number one crypto economy at the start of 2022 continues to be a strong performer in third place, with Hong Kong moving up to fourth and Switzerland dropping to fifth. Looking at the current Q4 listings, some countries have continued to embrace the wider crypto space and move up. Others, such as Russia, that have in place full or partial crypto trading or spending bans, move down.
Australia and Canada, both top five crypto economies throughout 2021, have fallen steadily over 2022 with Australia down to number six and Canada to number 13 on the current ranking. South Korea, Taiwan, Japan, and France have all moved steadily into the top 15 global crypto countries because of positive legislation.
The UAE is in seventh place
The world’s so-called tax havens perform strongly in the Coincub global crypto ranking on account of their low to zero taxation strategies. Generally, however, many do not have the wider development of an ‘all-round’ crypto economy to challenge the larger economies. One that has is the United Arab Emirates which has moved strongly up into seventh place to cement its position in the top ten.
“The collapse of FTX has served as a wake-up call for governments around the world, highlighting the need for more comprehensive and effective regulation in the crypto industry. This can be a positive development for the industry as a whole, as it will help to root out bad actors and build greater trust and confidence among investors.” – Sergiu Hamza, CEO of Coincub.
For the full ranking of the top fifty crypto-friendly countries in Q4 2022 – see HERE.
ENDS
Editor’s Note
Coincub.com offers bespoke information, guidance, and analysis on the workings of the crypto economy for both new and experienced crypto investors on a uniquely country-by-country basis. Complete country guides and rankings can be found on the website.
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Jon Lea – Chief Editor Coincub
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