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USA, Cyprus, Singapore, Hong Kong and the United Kingdom are the world’s crypto-friendly countries

A study has revealed the most crypto-friendly countries in the world, with the US being named as the most prepared for the use of the main cryptocurrency.

Conducted between May 2020 and April 2021, it assessed the number of crypto ATMs in each country, their accessibility, the government’s legal stance on crypto ownership, whether they can be used in banks, and the number of online searches for crypto. .

The U.S. had the highest crypto-ready score, followed by Cyprus, followed by Singapore in third, followed by Hong Kong and then Britain as the fifth most ready country.

Cryptocurrency friendly

The U.S. scored 7.13 out of 10 because it has the most crypto ATMs at 17,436. The next closest country for ATMs was Canada with 1,464.

U.S. law also allows crypto ownership and use in banks, with 14,796 Google crypto searches for every 100,000 people between May 2020 and April 2021 – a 140% increase over the same period the previous year.

Cyprus had the next highest score of 33,941 out of every 100,000 people looking for cryptocurrency between May 2020 and April 2021 alone, with 6.47 out of 10.

It was the highest level of any country in the world and increased by 139.6% from the previous year. Although it does not have crypto ATMs, Cyprus allows banks to own and use cryptocurrencies, bringing its readiness score high on the lists.

Crypto interest of tax havens

” Some interesting findings in our Crypto Ready Index, Cyprus, Gibraltar, Cayman Islands and Falkland Islands interest in cryptocurrency from tax havens such as the recent increase. Our research found that between 25% and 30% of residents are researching the issue in 2020/2021.

“Despite the government’s slow regulatory clarity over the past few years, it has found that the United States is the most ready crypto for consumers, and this has actually led most crypto business overseas.”

Singapore as a crypto hub

Singapore, which came in third with 6.3 out of 10, scored higher because of its size and dense population. “As a financial center of the world, Singapore has made a total of 31,324 crypto searches for every 100,000 people, which ranks second among all countries analyzed.

“The law allows to own and use cryptocurrencies, and singapore has 10 crypto ATMs. But because it is such a small country, this is equal to one in every 28 square miles, one of the highest concentrations of any country.”

Crypto facts

  • Hong Kong has the highest concentration of crypto ATMs in the world, with an average of one for every three square miles – but Hong Kong totals only 429 square miles.
  • The United States has the most crypto ATMs per head of the population, with one per 19,023 people, followed by Canada and the UK.
  • While ownership of cryptocurrencies is allowed in Canada, they are not available in banks and are the only country in the top 10 that does not receive a full regulatory score.
  • Cyprus is the only country in the top 10 that does not have a single crypto ATM.
  • Although Romania ranked 53rd, it saw the biggest increase in crypto searches from 34,200 to 147,500 between 2019 and 2020 – a 331% increase.
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