According to Recap, London has come first place as the leading crypto hub in the world. But while the UK’s capital leads the race, the study found that only 11% of people in England own or use crypto, compared to 45% of people in Nigeria, which ranks 14th.
Coming fourth is Singapore, a crypto tax haven. With 25% ownership of crypto, over 1,000 people working in the industry and 800 crypto-based companies, the city doesn’t require investors to pay capital gains tax.
Hong Kong and Bangkok are also in the top ten due to low capital gains tax, high volume of crypto ATMs, and the number of people in the crypto field.
Interestingly, San Salvador in El Salvador, came 41st in the table with only ten people working in crypto-based jobs – but is the only place where residents are able to spend it like currency as shop prices are also quoted in Bitcoin.
Laws around cryptocurrency differ significantly between countries. In some countries like China, Vietnam, and India, cryptos are actually banned or heavily restricted. That’s why they were omitted from the Recap’s list.
Read the full analysis HERE.
Add Comment