The factors considered for calculating the state’s readiness were the number of crypto ATMs in proportion to population and geographic size, as well as the number of blockchain startups per 100,000 people.
While the key to having encryption remains public acceptance, in the way of popularizing encryption, governments must create a supportive infrastructure that serves the needs of technology and people.
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Factors such as the deployment of crypto ATMs, pro-crypto regulations, startup culture, and a fair tax system are indicators of a country’s willingness to accept cryptocurrencies.
Taking these factors into account, a study by Forex Suggest found that Hong Kong is best prepared for the widespread adoption of cryptocurrencies, with an average of 8.6.
Despite having a larger cryptocurrency infrastructure than the island nation, the United States and Switzerland concluded the top three with lower crypto readiness scores of 7.7 and 7.5, respectively.
The largest factors considered in the study to calculate the state’s readiness were the number of crypto ATMs in proportion to the country’s population and geographic size, and the number of blockchain startups per 100,000 people.
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As a result, Hong Kong’s smaller land area helped the country top the list.
Data from CoinATMRadar shows that the United States is home to 88% of global crypto ATM deployments. In contrast, 146 crypto ATMs are installed in Hong Kong, which represents only 0.4% of crypto ATMs worldwide.
However, thanks to the smaller area, Hong Kong residents are never more than 7 kilometers (4.3 mi) from crypto ATMs.
In contrast, Switzerland has a coded ATM every 161.5 miles (260 km), while the United States has an ATM every 168.3 miles (271 km).
Cryptocurrency tax is the biggest deterrent to mainstream adoption of cryptocurrency. Hong Kong, Switzerland, Panama, Portugal, Germany, Malaysia and Turkey share the number one position for the lowest taxable crypto capital gains.
A country’s efforts to nurture a growing currency infrastructure depend largely on investor sentiment.
Despite this, investors from major economies such as Australia, Ireland and the United Kingdom showed the most interest in cryptocurrencies, indicating that there is healthy competition around the world.
Opera Crypto browser has doubled down on its efforts to improve accessibility to Web3, and has announced a partnership with Coin98, a decentralized finance (DeFi) platform based in Southeast Asia, to enhance accessibility to Web3.
By integrating Coin98, Opera Crypto Browser will be able to use NFT offerings, decentralized exchanges (DEX), bridges between chains and exchange platforms, as well as the ability to deposit and lend their crypto wallet, according to the developers’ announcement. Thursday.
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source: cointelegraph.com
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