New research noted that Germany replaced all other crypto-friendly countries, in terms of crypto & blockchain adoption rates.
At present, El Salvador is only the country where Bitcoin used as legal tender is allowed legally and also there is no tax on profit made from Bitcoin holdings. Overall El Salvador is the best country for Bitcoin and Bitcoin lovers but not for other cryptocurrencies. However, Singapore is popularly known as the most crypto-friendly country in the world but it seems Singapore is also lagging in the race for crypto adoption.
Recently Coincub, a crypto insight firm, published its report on the top countries, which are giving better room for the crypto industry to evolve at its best potential.
According to analysis of CoinCub, Germany replaced Singapore in terms of crypto adoption because of the number of key development works for the crypto industry.
The report noted that Germany contributes high numbers of Bitcoin mode, alongside the US. And this support is very big if we compare it with other dominating countries in the same race with GDP and population.
Besides this fact, Report noted that more than 20 digital assets backed ETFs trade products are available on the digital assets exchange, Xetra.
“Sparkasse savings bank looking into offering wallets to trade crypto is a huge step for institutional acceptance.”
So now in the race of most crypto-friendly countries, Germany is standing First, Singapore second, and the US at 3rd number.
CoinCub noted that UAE is standing at the 22nd number in this race because it’s new for crypto, which is moving toward adoption with precise steps. While India is standing at 19th number, which is lagging because of the unclear Govt policies on crypto.
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