Hong Kong has once again secured its position as the world’s most crypto-ready jurisdiction for the second consecutive year, according to the latest Global Crypto Readiness Report. The study evaluated factors such as the presence of digital currency infrastructure, accessibility, legality, and public interest in it.
In the report, which expanded its scope to include all countries within the OECD, G20, and European Union, Hong Kong emerged as the clear leader with an overall score of 8.36.
The semi-autonomous region of China boasts a rich history as a global trade and commerce hub, and this reputation has extended into this economy. Hong Kong offers traders a 0% tax rate, a robust network of crypto ATMs, and a thriving blockchain and crypto industry.
Switzerland has achieved an impressive second spot globally, boasting a remarkable score of 8.18. Renowned for its robust financial sector, Switzerland not only embraces digital currencies but also exhibits a significant concentration of crypto and blockchain businesses, capturing the interest of its citizens in this emerging field.
The United States secured the third position with a solid score of 7.25. Renowned as a global economic powerhouse and technological frontrunner. It showcased an impressive presence in the this realm, boasting abundant ATMs and nurturing an environment conducive to widespread digital currency adoption.
This year’s report notably saw five new countries entering the top 10. Slovenia and Georgia shared the fourth position, Canada jumped to sixth place, Australia climbed to seventh place, Germany secured the eighth spot, and Bulgaria and Panama tied for ninth place.
The Netherlands topped the list for the highest rate of crypto searches per capita, followed by Singapore and Slovenia, indicating strong interest in digital currencies in these regions.
Crypto ATMs: Hong Kong Leads the Way
The United States takes pride in having the highest number of crypto ATMs worldwide. It is closely followed by Canada and Georgia, highlighting how accessible digital currencies are for U.S. residents. However, owing to its dense population, Hong Kong leads in ATMs per square foot, with Switzerland and the United States following closely behind.
Regarding taxation, numerous countries have introduced a 0% tax rate on crypto profits; however, the specific regulations vary. The legal status of digital currencies also displays significant discrepancies across nations: some fully embrace them while others enforce bans or implementation restrictions.
Whereas, New York emerged as the foremost state in the United States with a high level of readiness for digital currencies. It was closely followed by Connecticut and Massachusetts, making the Northeast region a prominent hub for crypto activities.
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