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USA and Germany go top in latest Q2 2022 crypto rankings | Coincub.com
- Germany and the US are tied for the title of the world’s most crypto-friendly country
- Switzerland moves up to the third place, Singapore falls to fourth place, and Australia rounds out the top 5 in fifth place
- New US crypto regulation and anti-money laundering laws set a global example
Germany now has to share the top spot with the USA in the latest Q2 rankings for 2022. Both Germany and the United States scored strongly across multiple metrics. Germany took first place in the 2022 Q1 ranking, driven by the unprecedented decision by savings institution Sparkasse to allow bitcoin investments. The USA has followed hard on its heels, but still hasn’t quite managed to overtake the European nation.
President Biden’s push for better cryptocurrency regulation and anti-money laundering laws give the US a massive boost. Pensions and investment giant Fidelity announced in April that crypto would form part of the portfolios of American pension funds. This is as groundbreaking an endorsement of Bitcoin as that by the Sparkasse savings institution in Germany.
Coincub CEO Sergiu Hamza states: “In the quarterly rankings, all governmental moves to legitimize crypto investment, safeguard consumers, and consolidate strategy boost a country’s crypto economy and score highly within our ranking criteria.”
Moving up into third place is Switzerland, which has steadily risen through the rankings thanks to progressive legislation and high trading volumes. The Swiss ranking was improved by the canton of Lugano’s decision to use bitcoin as de facto legal tender. In Lugano, bitcoin can now be used for everything from watches to taxes.
In fourth place is Singapore. The city-state took first place in the 2021 Q4 ranking but has since ceded ground to other countries. Singapore is still a crypto economy powerhouse thanks to a high concentration of crypto holders and ICOs. Restrictions on the third-party advertising of virtual asset service providers (VASPs) have lowered its score.
In Q4 2021, Australia was in second place behind Singapore. Q2 2022 saw it fall to fifth place simply through being overtaken, rather than by any regressive policies.
The Q2 rankings have been calculated with data assembled up to the recent market falls in crypto prices. All Coincub rankings are compiled from wide-ranging data that goes beyond price. These include government policies toward cryptocurrency, current legislation, taxes, investments, blockchain education courses, crypto startups, and the status of CBDCs. These criteria provide a comprehensive account of the crypto economy and blockchain acceptance within any country.
For the full ranking of the top fifty crypto-friendly countries in Q2, 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. Full country rankings and exchange rates can be found on the website.
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