1. BITBILIHome
  2. Article

Hong Kong secures top spot for crypto adoption readiness in 2023 – Reports

• 37 views

TL;DR Breakdown

  • Hong Kong retains its position as the most crypto-readiness jurisdiction in 2023, followed by Switzerland and the United States.
  • India leads global crypto adoption surge in 2023.
  • Netherlands stood out, showing the highest interest per person when it comes to individual interest in crypto.

Description

Hong Kong has emerged as the world’s best-prepared jurisdiction for widespread cryptocurrency adoption in 2023 for the second consecutive year. A comprehensive study assessing factors like the presence of crypto infrastructure, accessibility, legality, and overall reach has unveiled that Hong Kong secured the top spot with a Crypto Readiness Score (CRS) of 8.36. Hong Kong … Read more

Hong Kong has emerged as the world’s best-prepared jurisdiction for widespread cryptocurrency adoption in 2023 for the second consecutive year. A comprehensive study assessing factors like the presence of crypto infrastructure, accessibility, legality, and overall reach has unveiled that Hong Kong secured the top spot with a Crypto Readiness Score (CRS) of 8.36.

Hong Kong faced stiff competition from the United States and Switzerland, which maintained their positions in the top three. However, the United States slipped to third place, witnessing a 6.5% decline in its CRS score from 7.7 in 2022 to 7.25 in 2023. Switzerland, on the other hand, saw its CRS score surge by over 9% from 7.5 to 8.18, securing the second rank globally.

Screenshot 3Hong Kong secures top spot for crypto adoption readiness in 2023 – Reports
crypto readiness score

The CRS takes into account several vital factors contributing to a country’s crypto readiness, including the presence of crypto ATMs, favorable regulations, a thriving startup culture, and a fair tax regime. Slovenia, Canada, and Australia also managed to break into the top 10 rankings in 2023.

When it comes to individual interest in cryptocurrency, the Netherlands stood out, showing the highest interest per person. The United States boasts the largest network of Bitcoin ATMs, but Hong Kong outperforms in terms of crypto ATMs per square foot due to its smaller landmass.

Screenshot 4Hong Kong secures top spot for crypto adoption readiness in 2023 – Reports
Most interest in crypto per person

Crypto and blockchain hubs

Estonia, Singapore, and Switzerland have emerged as bustling hubs for crypto and blockchain companies, fostering innovation and adoption. Taxes play a pivotal role in determining a country’s crypto adoption potential, with 12 nations imposing a 0% tax rate on crypto for individuals. Germany, Panama, and Portugal are among the countries adopting this favorable tax approach, positioning themselves for future growth.

Screenshot 5Hong Kong secures top spot for crypto adoption readiness in 2023 – Reports
The best countries for crypto tax globally

Crypto readiness in the US vs. Hong Kong

Within the United States, New York claimed the title of the most crypto-ready state, boasting a CRS of 9.80. This achievement can be attributed to the state’s numerous crypto-related legislations and a thriving ecosystem of crypto and blockchain businesses.

India’s remarkable crypto adoption

A recent Chainalysis report revealed that India leads the world in crypto adoption in 2023. Lower middle-income (LMI) nations, including Nigeria and Thailand, secured the second and third positions in the report, demonstrating the rapid expansion of the crypto market in emerging economies.

India’s leadership in grassroots crypto adoption is complemented by its position as the second-largest crypto market by raw estimated transaction volume globally. This remarkable growth is a testament to the increasing acceptance and integration of cryptocurrencies into the country’s financial landscape.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Hong Kong secures top spot for crypto adoption readiness in 2023 – Reports

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年9月16日 00:03
Next 2023年9月16日 01:10

Related articles

  • Indian Supreme Court questions Union government on crypto regulation delays

    TL;DR Breakdown The Indian Supreme Court (SC) has ordered the government to clarify whether it intends to create a specialized federal body to investigate crypto-related criminal activity cases. Justices Surya Kant and Dipankar Datta questioned the effectiveness of the investigations carried out by routine law enforcement officials in sophisticated cryptocurrency cases. Over the years, the Indian crypto ecosystem has flourished despite ambiguous legislation. Description The Indian Supreme Court (SC) has ordered the government to clarify whether it intends to create a specialized federal body to investigate cryptocurrency-related criminal activity cases. The concerned court pointed out the lack of legislation for digital currencies and a qualified agency to manage such issues. Supreme Court asks Union government to clarify crypto regulation … Read more The Indian Supreme Court (SC) has ordered the government to clarify whether it intends to create a specialized federal body to investigate cryptocurrency-related criminal activity cases. The concerned court pointed out the lack of legislation for digital currencies and a qualified agency to manage such issues. Supreme Court asks Union government to clarify crypto regulation The Supreme Court…

    Article 2023年7月29日

  • Australia’s ANZ boosts cross-chain power with Chainlink

    TL;DR Breakdown Australia’s ANZ bank collaborates with Chainlink, advancing its capabilities in the blockchain sphere. ANZ successfully completes a transaction using its A$DC stablecoin and Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The move builds on knowledge from a prior initiative aiming to test blockchain interoperability with global banking giants. Description ANZ is not waiting around. As one of the juggernauts in Australia’s banking sector, ANZ has launched another daring move, this time venturing deep into the blockchain universe. With the impressive completion of a transaction harnessing tokenized assets, ANZ is demonstrating it’s not just here to play; it’s here to lead. Breaking Boundaries: From Traditional … Read more ANZ is not waiting around. As one of the juggernauts in Australia’s banking sector, ANZ has launched another daring move, this time venturing deep into the blockchain universe. With the impressive completion of a transaction harnessing tokenized assets, ANZ is demonstrating it’s not just here to play; it’s here to lead. Breaking Boundaries: From Traditional to Tech-forward ANZ has recently made waves by conducting a transaction involving its A$DC stablecoin, coupled with Chainlink‘s…

    Article 2023年9月15日

  • Curve hacker returns assets, beginning with $10M in ETH and alETH

    TL;DR Breakdown The individual behind the $61 million asset drain on Curve Finance has begun to return some of the stolen cryptocurrency. Curve Finance, Metronome, and Alchemix offer a 10% bounty as a reward if the attackers return the remaining 90%. Description The individual behind the $61 million asset drain on Curve Finance, a decentralized exchange, has taken steps to return some of the stolen cryptocurrency. On Friday, the perpetrator utilized an Ethereum blockchain transaction to reach out to Alchemix, one of the victims and requested verification of the protocol’s address to facilitate the return of the … Read more The individual behind the $61 million asset drain on Curve Finance, a decentralized exchange, has taken steps to return some of the stolen cryptocurrency. On Friday, the perpetrator utilized an Ethereum blockchain transaction to reach out to Alchemix, one of the victims and requested verification of the protocol’s address to facilitate the return of the assets.  Subsequently, they transferred approximately $10 million worth of ether (ETH) and alETH to Alchemix’s multi-signature wallet through multiple transactions, as indicated by the data…

    Article 2023年8月5日

  • Tether emerges as a key Bitcoin holder fueling market speculation

    TL;DR Breakdown Tether has ranked as a major Bitcoin holder across the world fueling market speculation. The implication of the company’s role in the crypto landscape. Description In a significant development, Tether, a prominent stablecoin issuer, has quietly risen to become the 11th largest holder of Bitcoin globally. This revelation has ignited curiosity and speculation within the cryptocurrency market regarding the potential impact the firm could wield. While Tether has refrained from officially disclosing its Bitcoin addresses, Tom Wan, a research analyst … Read more In a significant development, Tether, a prominent stablecoin issuer, has quietly risen to become the 11th largest holder of Bitcoin globally. This revelation has ignited curiosity and speculation within the cryptocurrency market regarding the potential impact the firm could wield. While Tether has refrained from officially disclosing its Bitcoin addresses, Tom Wan, a research analyst at 21.co, claims to have identified an address that is potentially linked to the firm. Tether address holds about $1.6 billion Bitcoin This Tether address is said to currently hold approximately 55,022 bitcoins, with an estimated value of around $1.6…

    Article 2023年8月6日

  • Expert cautions against US dollar disruption – Why?

    TL;DR Breakdown Nobel laureate Paul Krugman warns of financial disruption not from the rise of another global currency but from a lack of a currency capable of fulfilling the role of the U.S. dollar. Krugman believes the currency’s dominance is not in imminent danger and he dismisses the possibility of the Chinese yuan as a viable rival. Renowned economist and Nobel laureate, Paul Krugman, has sparked a fascinating discourse concerning the role of the U.S. dollar in the global economic landscape. His insights prompt us to examine the possibility of an impending disruption that could reverberate through the international financial markets, not as a result of the rise of an alternative currency, but rather the lack thereof. Krugman, acclaimed for his unparalleled understanding of trade patterns and the spatial organization of economic activities, recently expressed his concerns about the potential fallout from a hypothetical U.S. default. His conjectures are not rooted in the fear of the greenback being usurped by a more dominant global currency. Instead, his apprehensions stem from the possibility of no other currency being equipped to fill…

    Article 2023年5月25日
TOP