Germany and the USA are considered the most crypto-friendly countries in the world
Germany with favorable legislation and Sparkasse bitcoin plans
Crypto expert disagrees with Germany’s placement
Germany has been number one since the beginning of the year
Since 2021, the crypto analysis company Coincub has been publishing a quarterly ranking of the most crypto-friendly countries in the world. “With the Coincub ranking, we’re trying to look beyond the numbers to find the countries that are strategically positioned,” the website says. For the ranking of each country, factors such as the crypto-related approach of the government, crypto-financial services, the attitude of the population to the topic, taxes and infrastructure are evaluated.
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And so Germany and the USA end up in first place in the second quarter of 2022, with Germany already holding this position in the first quarter. The USA was previously in third place, which is now occupied by Singapore.
Fidelity and the Sparkasse scored with their Bitcoin decisions
Germany’s rating in the first quarter was determined by the Sparkasse’s announcement that it intends to include investments in Bitcoin & Co. in its list of services. The fact that it recently backed down in this regard and is now restricting itself to offering its own wallet for tokenized securities was made up for in the ranking by Germany’s progressive crypto legislation – according to Coincub “one of the best thought-out of all”. The large number of crypto investors and Bitcoin nodes also had a positive impact on the rating, as did the advantageous tax system.
The USA is in first place in the Coincub ranking next to Germany because President Joe Biden has campaigned strongly for better crypto regulations and against crypto fraud in recent months. The initiative by the financial services institute Fidelity to include Bitcoin in their bond portfolios also played a major role. Coincub writes: “This decision for Bitcoin is just as groundbreaking as that of the savings banks in Germany.”
Crypto expert considers Germany in first place to be out of place
But not everyone agrees with Germany’s placement. The crypto and Germany expert Antonio Lukic explained on the BeInCrypto portal that Coincub had acted incorrectly in the evaluation. He sees no point in positively assessing the Bitcoin entry of financial institutions and banks – after all, one wants to make oneself independent of such players with cryptocurrencies. Among other things, it is incomprehensible that Germany has done so well in the infrastructure category: Compared to the canton of Lugano in Switzerland, for example, where the major crypto project “Plan B” has just started and Bitcoin has become the official means of payment, Germany actually falls here far back.
Olga Rogler / Editor finanzen.net
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