Dublin, Ireland — Coincub.com, a leading crypto offchain media data analytics platform, announced the release of its 2023 US Crypto Business Index, a crucial guide that ranks the best U.S. states for crypto companies. The index serves various stakeholders—businesses, investors, governments, and regulators—by offering invaluable, data-backed insights into the most favorable regions for crypto-based activities. Data-driven metrics shed light on the U.S. regulatory landscape for crypto entrepreneurs and policymakers.
- Colorado Dominates: With 33% of all U.S. crypto businesses registered with FinCEN, Colorado’s regulatory-friendly stance makes it an epicenter of crypto activity.
- Regulatory Inconsistencies: Surprising disparities exist between states. For instance, Wyoming and Colorado account for 20.23% and 19.94% of all MSB-licensed companies, while states like Mississippi and Louisiana lag significantly behind.
- Unexpected Leaders: Cities like Aurora and Colorado Springs outperform traditional financial hubs like New York and Miami regarding registered crypto MSBs.
- Despite its reputation as a financial hub, New York ranks 51st in the number of companies with Money Service Business (MSB) licenses for crypto activities, just above Puerto Rico and below Hawaii.
Given the divergent regulatory approaches to crypto across U.S. states, the index provides indispensable, location-based data. This information is useful for crypto startups and serves central banks, policymakers, and investors looking to understand macro trends and regional differences in the crypto space.
- The Financial Crimes Enforcement Network (FinCEN) is the principal data source, supplemented by other databases like global VASP databases and Bloomberg’s legal data.
- A multifaceted calculation method normalizes various metrics to a score between 0 and 1 for easy comparison.
For a detailed look into the rankings, visit Coincub.com’s Crypto US Business Index 2023.
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Contact: Jon Lea
Note: This press release is intended for informational purposes. The data presented is based on rigorous research, but stakeholders are encouraged to conduct their own due diligence.
Based in Dublin, Ireland, Coincub.com is a premier crypto offchain media data analytics platform that provides deep insights into the crypto economy, global crypto regulations, and much more. Coincub.com is an invaluable resource for data-driven decisions in the bitcoin and web3 sphere for governments, crypto exchanges and investors.