Germany tops crypto friendly list

Germany remains the most cryptocurrency-friendly nation in the world, according to a Coincub survey.

The country is one of two nations to share the first place, with the other being the US.

According to the company, Germany and the US performed well across numerous benchmarks used to assess the overall attitudes towards cryptocurrencies in each jurisdiction. Germany stormed the first place after Sparkasse enabled Bitcoin (BTC) investments.

Germany is expected to continue improving in anticipation of an upcoming piece of legislation known as Markets in Crypto Assets (MiCA).

Much of the ranking that places the US second seems to emanate from the hope that the presidency of Joe Biden will result in a more regulated and transparent environment for cryptocurrencies.

Pensions and investment giant Fidelity said that it would start accepting cryptocurrencies, in what has been described as “groundbreaking” by Coincub.

Meanwhile, Switzerland moved up the pecking order because Lugano voted to allow BTC as a legal tender.

This means that, while Switzerland itself is not adopting the cryptocurrency, there are parts of it that are happy to see it through.

Singapore in the meantime ranks forth and is expected to continue climbing up the rankings.

The country has beckoned to crypto holders and companies interested in conducting ICOs which is consolidating its status among cryptocurrency jurisdictions in the world.

All of this comes amid a broader call for regulating cryptocurrencies and one of the worst downturns the industry has seen in a long time.

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Updated: 07/19/2022 — 19:00