The United States just got knocked off its pedestal by Singapore as the crypto capital of the world.
This year has been a significant one for the crypto industry. Unexpected events are coins rally-ups that changed how so many countries view and approach the world of virtual currency. Now the latest crypto ranking shows which country leads the world for crypto adoption.
Ireland-based tech company, Coincub, has released a Global Crypto Ranking list for Q4 2021. The ranks are based on parameters like government policy, tax laws, regulations, financial sector acceptance and other legalities. It also takes quantitative daga like crypto ownership, Bitcoin ATMs and spending opportunities into account.
Singapore ranks #1 in this quarter’s ranking of the world’s most dynamic crypto countries for 2021/Q4. It used to be in third place. Singapore’s rank comes from its booming crypto economy, its large crypto-owning population and its positive legislation. The country has a clear government strategy and regulations to provide reassurance to crypto-shy investors.
The U.S., which used to be number one, now ranks at number three in the list with 1,821 Bitcoin nodes, 25,956 crypto ATMs, and has the only crypto exchange platform, Coinbase, listed on the stock market. The US lost its number one spot due to uncertain legislation around the currency.
“Events are moving at breakneck speed in the crypto economy. In the last few months alone, bitcoin hit new price highs, driving renewed demand worldwide; El Salvador declared bitcoin as legal currency, and China banned it altogether.”
——Sergiu Hamsa, CEO of Coincub