Hong Kong ranked the as the most crypto-ready country in 2022
According to a recent survey, Hong Kong tops the crypto-ready country table with a 8.6/10 score, followed by the previous leader – the United States of America (7.7), while Switzerland is third (7.5).
The latest worldwide crypto readiness survey explored the number of blockchain startups per 100,000 people in each country, the digital asset legislations and taxation rules, the number of crypto ATM installations relative to the population and geographical size of the jurisdiction, and the interest in the industry per capita. As a result, it crowned Hong Kong as the most crypto-ready nation.
Hong Kong does not require taxes from crypto capital gains, making it appealing to investors. Owing to its smaller geographical size, Hong Kong’s density of crypto ATMs is among the highest, with a network of 146 crypto ATMS, or two machines for every 100,000 people.
The world’s leading economy and previous winner in the crypto readiness list – the U.S.has over 33,000 crypto ATMs, or 10 machines for every 100,000 people.
Switzerland ranks number, as it does not impose tax on crypto gains and is where a lot of blockchain startups reside.
The countries that made it to the top ten on the list include Georgia, the UAE, Romania, Croatia, Ireland, the Czech Republic, as well as Slovakia, Greece, Panama, and Bulgaria.