Germany overtook the United States as the world’s leading crypto economy

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Coincub, the renowned ranking platform for the most prominent countries worldwide, has published the figures of a report referring to the 3rd quarter of the year 2022.

This classification takes into account several factors such as a favorable outlook with cryptocurrencies, clear fiscal rules, more transparent regulatory laws, adoption by the population and much more.

Stay until the end and find out which countries are leading the development and growth of the crypto ecosystem worldwide!

World report. Third quarter 2022

This report presents Germany as the most favorable crypto economy in the world, highlighting certain freedoms for Bitcoin and cryptocurrency holders, which, in fact, establishes the reduction to zero of taxes on cryptocurrencies held for more than a year.

A savings policy towards crypto investment that involves large financial institutions in the country has also been a fundamental factor. Germany, although not a tax haven, is considered one of the strongest crypto economies with traditional taxation that rewards long-term crypto holders.

The United States falls to 7th place

After being the most crypto-friendly country until last quarter, the United States fell to seventh place due to its unfavorable crypto tax policy and lack of regulatory clarity.

The regulatory framework imposed by the government in an attempt to stabilize the economy on the verge of recession does not offer any incentive for crypto investors and has diminished the interest of the population toward this type of financial options, showing a turbulent period that seems to have an end in the near future.

Other countries

Switzerland has been one of the countries that have strengthened its proactive regulatory stance on cryptocurrencies and are home to some of the best cryptocurrency organizations in the world.

This is followed by countries such as Australia, which has shown great interest in Bitcoin by promoting proactive legislation in this regard and reasonable tax policy, the United Arab Emirates, which has invested in a large infrastructure for the development of Web3, and Singapore, which has established itself as a crypto power in Asia with the population that invests the most in the crypto market.