Cryptocurrency is quickly becoming a dominant force in the global economy. Most countries around the world now have some form of involvement with cryptocurrencies. There are some countries however, that are taking the concept of #cryptocurrency to the next level and becoming quite prosperous as a result. Here are some countries that are much richer in crypto than most people think.
South Korea – South Korea is quickly becoming a major hub for cryptocurrency, with nearly half of the population now owning some form of cryptocurrency. South Korea has numerous crypto exchanges and a vibrant crypto community. This country is also home to the world’s largest cryptocurrency exchange, Bithumb, which processes over $100 million worth of crypto every day. South Korea has also seen an uptick in the number of blockchain projects launching in the country.
Japan – Japan was one of the first countries to recognize cryptocurrency as a legitimate form of payment. This has translated to tremendous growth in the crypto space for the country. Numerous crypto companies have either launched or are headquartered in Japan. The Japanese government is also actively promoting the advancement of blockchain technology in the country, as demonstrated through its recently launched “RegTech Sandbox” program.
Switzerland – Switzerland is quickly becoming known as the “Crypto Valley” due to its progressive stance on cryptocurrency. This country is home to various blockchain hubs, including the Crypto Valley Association, which is a leading advocacy group for the blockchain industry. The Swiss government has also introduced favorable regulations for both traditional financial firms and cryptocurrency companies. This has resulted in a number of cryptocurrency companies setting up shop in the country.
Estonia – Estonia is quickly becoming one of the most crypto-friendly countries in the world. The Estonian government has promoted the use of blockchain technology in various aspects of its economy. This includes its e-Residency program, which allows foreign entrepreneurs to establish and operate businesses in Estonia online. Estonia has also issued licenses to various cryptocurrency companies that allow them to conduct activities in the country.
Theses are just a few of the countries that are much richer in crypto than most people think. A number of others, such as Malta, Gibraltar, and Liechtenstein also deserve special mention. These countries recognize the potential of cryptocurrencies and are working hard to make their economies crypto-friendly. As this trend continues, these countries will surely become even wealthier as more people turn to cryptocurrency for their financial needs.
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