Austerity is a byword for German economy and yet, a new study seems to show that the country has become one of the most crypto-friendly jurisdictions in the world.
Based on a study conducted by Coincub, a crypto asset digital aggregator, Germany tends to be the most crypto-friendly place, edging ahead of Singapore which previously held the title in the first quarter of the year.
The US is still third. All of these jurisdictions now face incoming regulatory pressure, but none seem to have backed down. This follows a decision to allow people to invest in crypto in 2022.
Coincub CEO Sergiu Hamza commented on the results and said that the company used a number of different methodologies to assess the relative “friendliness” of each jurisdiction.
Coincub included measurement of fraud cases, talent availability and initial coin offerings in each of the surveyed countries.
Hamza explained: “As events develop, we go beyond legislation or pure numbers and introduce new dimensions that are crucial for defining a country’s “crypto friendliness” or maturity.”
While some have consolidated their status at the top, other nations have become way more open to cryptocurrencies as well.
The Netherlands, France and Spain are all going through some regulatory changes that will enable them to pursue crypto on both a consumer and business level.
The UK remains a difficult one, though, as there is still lack of clarity on what to do next when it comes to regulating the industry.