CDS Crypto News Hong Kong Lead: Working for Two Years for the World’s Crypto-Ready Region
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Hong Kong Lead: Working for Two Years for the World’s Crypto-Ready Region

For the second consecutive year, Hong Kong retains its position as the world's most cryptocurrency-friendly region.

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Hong Kong Lead Working for Two Years for the World's Crypto-Ready Region

Crypto News- In the 2023 Crypto Readiness Report, Hong Kong has once again solidified its status as the global leader in crypto readiness, securing the top position with an impressive Crypto Readiness Score (CRS) of 8.36. This marks the second consecutive year that Hong Kong has maintained its prominent position in this ranking.

Hong Kong Lead: Working for Two Years for the World’s Crypto-Ready Region

The report, which evaluates various factors such as cryptocurrency infrastructure, accessibility, and legal support, revealed that Hong Kong faced fierce competition from other prominent nations. Switzerland notably surged to second place, boasting a CRS of 8.18, while the United States slipped to third place with a CRS of 7.25, marking a 6.5% decrease from the previous year.

Hong Kong Lead Working for Two Years for the World's Crypto-Ready Region
Hong Kong Lead: Working for Two Years for the World's Crypto-Ready Region 1

This year’s rankings also introduced five newcomers to the top 10, including Slovenia and Canada, securing the fourth and sixth positions, respectively. Australia ascended eight places to claim the seventh spot, while Germany and Bulgaria tied for eighth place. Switzerland’s notable rise to second place since 2022 underscores its growing reputation as a major cryptocurrency hub.

The report highlighted that residents of the Netherlands and Singapore demonstrated the highest levels of interest in cryptocurrencies, whereas Estonia, Singapore, and Switzerland boasted the most significant number of cryptocurrency companies.

Hong Kong’s premier standing in the crypto readiness rankings can be attributed to its historical role as a hub for trade and commerce, now extending into the cryptocurrency realm. Crypto enthusiasts in Hong Kong enjoy a 0% tax rate, a substantial presence of crypto ATMs, and a thriving blockchain and crypto industry.

Meanwhile, the United States, a global economic powerhouse and technology epicenter, remains a prominent figure in the crypto landscape, with a high concentration of crypto ATMs nationwide.

Hong Kong Lead: Working for Two Years for the World's Crypto-Ready Region
Sources:coincu

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