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A report reveals the most friendly country for cryptocurrency!

A report reveals the most friendly country for cryptocurrency!

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Answer A report reveals the most friendly country for cryptocurrency!

According to a study conducted by the crypto-exchange aggregator Coincub, Germany was the most crypto-friendly country in the first quarter of 2020.

Singapore ranks second, while the United States ranks third.

Germany is the center of crypto:

pointed out Coincub reports that the ranking of countries most welcoming of digital currencies has changed over the past several months.

The company stated that Germany’s acceptance of cryptocurrencies and its ground-breaking decision to allow cryptocurrency investments put it first in the first quarter of 2022.

An example of the country’s recent pro-crypto trend is the intention of Sparkasse (Germany’s largest financial group) to offer exposure to cryptocurrency to its nearly 50 million clients.

Read:New changes to the STEEM network, developers and the crypto community annoyed by the Tron Foundation

Singapore ranked first in the fourth quarter of 2021, while the United States of America ranked third.

While Australia and Switzerland are in the top five.

Coincub CEO Sergio Hamza explained that his company seeks to provide a more accurate picture of recent cryptocurrency trends.

He added:

We use a scoring methodology to assess important categories such as fraud cases, talent, and the number of ICOs within each country.

As events develop, we go beyond legislation or pure numbers and introduce new dimensions necessary to determine the suitability of cryptocurrencies.

Other countries that have improved their crypto-friendly profile are the Netherlands, France, and Spain.

Switzerland has also found its place among the top 10 crypto-friendly countries.

This was primarily driven by reports that its southern city of Lugano was willing to accept bitcoin as legal tender.

Portugal and Crypto:

It is worth noting that Portugal, one of the crypto-friendly countries in Europe, was not among the top 10 countries according to the Coincub report.

The government of Portugal does not have a tax policy on cryptocurrency trading because it views bitcoin and altcoins not as assets but as currencies.

Read:Banking company Standard Chartered announces launch date of its cryptocurrency trading platform

As a result, many Ukrainian refugees flocked from their homeland to Portugal.

Last year, one of the leading electrical retail companies in Loseboa, Portugal, adopted bitcoin as a payment method, while last week the governing body of the Portuguese island of Madeira announced similar plans.

Read also:

Crypto-mixing platform Tornado Cash blocks US sanctioned addresses

Bitcoin stagnates at $40K and cryptocurrency FIL up 11%


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