Singapore comes top for cryptocurrency businesses in latest business report, says Coincub.com

Best country for crypto business report by Coincub.com

On a comprehensive number of business ranking categories, Singapore leads the pack as the world’s most ‘business-friendly’ crypto country. The ambitious island nation scores highly on the proportional number of crypto firms, the overall number of crypto firms, fundraising ($374 million), and venture capital presence. 

In the top five ‘business friendly’ crypto rankings, Singapore is followed by the UK, the Cayman Islands, Hong Kong and the USA at two, three, four and five respectively. 

The full rankings show a diverse range of countries all speeding ahead with their crypto economies notably, Switzerland, Estonia, Australia, Norway, Germany, France and Canada all of which sit comfortably in the top twenty. 

Languishing in the rankings, unsurprisingly, are countries such as Russia and China which have implemented full or partial bans on cryptocurrency dealings. Uzbekistan and Kazakhstan are even lower as both are predominantly Bitcoin mining countries rather than fully developed crypto economies.

The business-friendly ranking report from Coincub is the first in a planned two-monthly series, each carrying a different set of analyses on the crypto community worldwide. The reports are aimed at financial professionals, journalists, investors and casual crypto enthusiasts. 

Both El Salvador and the Central African Republic raised eyebrows a year ago when they declared Bitcoin as legal tender but neither has yet profited from the decision and sit in the lower half of the rankings table.

Crypto business friendly ranking map
Crypto business-friendly ranking ma

Nb – The Coincub bi-monthly crypto report is different from the company’s widely acknowledged quarterly ‘country rankings’ that take a wider, socio-economic perspective of the growth of crypto and blockchain across the world. In the recent Q3 2022 Crypto Country ranking, for example, Germany narrowly came top with Switzerland second, thanks to its progressive crypto policies generally and zero tax on long-term crypto investment savings.

Register your interest for the full Crypto Friendly Business Report here

Ends

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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.

Contact

Sergiu Hamza – CEO Coincub
[email protected]
(+353) 871756897
5th floor, 40 Mescal Road, Dublin 4, Dublin D04C2N4, Ireland

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This is not financial advice. Coincub is an independent publisher and comparison service. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. This space changes rapidly and evolving, so please make sure to do your own research. Although we do our best to provide you the best information, we cannot guarantee the accuracy or applicability of any information on this site or in regard to your individual circumstances.