Germany topped the ranking of crypto-friendly countries

According to the analysts at Coincub, the inclusion of crypto investments in the process of domestic savings indicates the institutional acceptance of cryptocurrencies

16.04.2022 - 10:15

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What’s new? Germany ranked first in the international ranking of crypto-friendly countries for the first quarter of 2022. The country’s primacy is due to its decision to include crypto investments in the process of domestic savings, indicating the acceptance and bright future of cryptocurrencies in Germany. Singapore, the United States, Australia, and Switzerland are also in the top five. This is stated in a report by analysis firm Coincub. The analysts ranked the 45 countries based on a number of factors such as government regulation, taxation, crypto fraud, and the acceptance of digital currencies by the population.

Coincub’s report

What does the report say? Germany, which ranked first, has the highest number of bitcoin nodes. Earlier this year, the Federal Financial Supervisory Authority granted Coinbase’s German arm a digital asset custody license. German stock market operator Deutsche Boerse has also listed more than 20 cryptocurrency exchange-traded products (ETPs) on its exchange, Xetra. Last year, Germany was ranked fourth, but this year it has displaced Singapore as the most crypto-friendly country. This came after the Monetary Authority of Singapore’s (MAS) decisions to restrict the advertising of crypto providers and shut down crypto ATMs.

Briefly about the rest of the top five countries. The United States ranked third on the Coincub list. The reason was the country’s desire to regulate cryptocurrencies rather than ban them. Australia took fourth place in the ranking. The number of crypto users in the country has more than doubled compared to the previous year. Switzerland rounds out the top five. The country’s ranking is boosted by new laws regulating crypto assets trading to keep investors safe.

Cryptocurrency situation in Germany. 44% of Germans plan to invest in digital assets. As of March 2022, 16% of Germans already own cryptocurrencies. This is stated in a KuCoin exchange report “Into The Cryptoverse 2022, Germany edition.”

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