Coincub, the recognized ranking platform for the most prominent countries worldwide, has published the figures of a report referring to the 3rd quarter of the year 2022. This classification takes into account several factors such as, a favorable outlook with cryptocurrenciesclear fiscal rules, more transparent regulatory laws, adoption by the population and much more.
Stay until the end and find out which countries are leading the development and growth of the crypto ecosystem worldwide!
Image courtesy of Coincub
World report. Third quarter 2022
This report presents Germany as the most favorable crypto economy in the world highlighting certain freedoms for the holders of Bitcoin and cryptocurrencies, which in fact, establishes the reduction to zero of taxes on cryptocurrencies held for more than a year. A savings policy towards crypto investment that involves large financial institutions in the country has also been a fundamental factor. Germany, although not a tax haven, is considered one of the strongest crypto economies with traditional taxation rewarding long-term cryptocurrency holders.
United States falls to 7th place
After being the most crypto-friendly country until last quarter, The United States fell to seventh place due to its unfavorable cryptocurrency tax policy and lack of regulatory clarity.. The regulatory framework imposed by the government in an attempt to stabilize the economy on the verge of recession, does not offer any incentive for crypto investors and has diminished the interest of the population towards this type of financial options, showing a turbulent period that seems to have an end in the near future.
Coincub Ranking 3rd Quarter 2022.
Other countries
Switzerland has been one of the countries that has strengthened its proactive regulatory stance on cryptocurrencies and is home to some of the best cryptocurrency organizations in the world. Then followed by countries like Australia that has shown great interest in Bitcoin promoting proactive legislation in this regard and a reasonable fiscal policy, United Arab Emirates which has invested in a large infrastructure for the development of Web3 and Singapore which has established itself as a crypto powerhouse in Asia with the population that invests the most in the crypto market.
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