Germany ranks first again in the Q3 2022 Global Crypto Ranking. US drops, Switzerland goes up to second place.
Still highlighting Germany’s top place is its tax and savings policy towards long-term crypto investment, which involves some of the country’s largest and most respected financial institutions. Long-term crypto investment also featured strongly in the USA’s top place in Q2, but the USA’s crypto taxation policies are quite onerous and do not offer any particular form of incentive for crypto investors. That said, the US is one of the first countries first country to allow crypto to form part of strategic workplace pensions. Much more legislation is yet to come from the US which may change the position in Q4.
The Canton of Lugano declared Bitcoin as a legal tender. This canton also houses the world’s largest concentration of leading crypto organizations in Crypto Valley. Whilst mainstream economies such as these three can’t compete with tax havens when it comes to exemptions from tax, they have other strengths within their respective crypto communities that are increasingly apparent.
Australia stays steady, UAE moves up sharply, and Singapore eases
The next three countries are Australia, UAE, and Singapore at three, four, and five respectively. Australia enters the top three and has been a top five country for some time on the strength of all-around data and positive legislation, reasonable taxes, and a government seemingly in favor of creating its own system of digital payments infrastructure. Singapore has a wide uptake of crypto investment among its population but has recently looked to constrain the third-party advertising of VASPS. The UAE has enormous tax advantages, positive legislation and a fast-growing crypto community which makes it rise up on our latest ranking to fourth place. From banning crypto early on, the UAE now has a government striving to become the leading crypto economy in the middle east.
Here are the main rankings and top 5's
- Top crypto-curious nations for Q3 2022
- Top countries for crypto activity in Q3 2022
- Top five countries with cryptocurrency ban
- Top crypto-hoarding populations
- Top crypto ATMs nations worldwide
Full PDF report and ranking here: https://coincub.com/ranking/q3–2022-global-crypto-ranking/