Singapore and Hong Kong Make Their Mark.
The crypto world was rocked last year by the sudden collapse of major player FTX, serving as a wake-up call for governments around the world. This has highlighted the need for more comprehensive and effective regulation in the crypto industry, a pressing concern that has taken centre stage in the wake of the collapse.
A recent report by Coincub, the leading provider of bespoke information and analysis on the crypto economy, has just released its latest global crypto rankings for Q4 2022. The report, which is based on a comprehensive metric of data, has revealed that the USA is now the world's top crypto economy, overtaking Germany which slipped to second place.
In Q4 2022, the USA took the top spot as the world's leading crypto economy, with Germany slipping to second place and Singapore and Hong Kong moving up to third and fourth respectively. According to the latest rankings compiled by Coincub, the USA's rise to the top was driven by its comprehensive regulatory framework and strong finance, trading, and job market within the crypto space.
While the FTX collapse has significantly impacted the crypto world, the industry has shown resilience in the face of adversity. The global rankings indicate continued growth and stability, with many countries embracing the wider crypto space and moving up the ranks. But new regulation is on the horizon for the industry, with new regulations expected to be rolled out in the coming months.
As the crypto industry continues to boom at the beginning of 2023, it is important for all to stay informed and up to date on the latest developments in their country as each government has its own mind about how to deal with the crypto world. The Coincub ranking provides a comprehensive view of the state of the crypto economy, covering a range of factors such as government regulation, finance, population, tax, talent, proliferation, trading, fraud, and the environment. The ranking is based on a comprehensive metric of data, making it one of the most comprehensive and in-depth analyses of the crypto world to date.
đ Government regulation - Positive, Negative and Outlook
đŠ Finance - Banks, VASPs and Crypto exchanges - Crypto pensions, and services - Fundraising and Venture Capital presence - CBDC stage - Government and companies own bitcoin in treasury
đ§ Population - Google search and interest for bitcoin and crypto - Bitcoin ATMs
â Tax - Income tax, thresholds - Capital Gains Tax - Taxes for enterprises and on transactions
đŒ Talent - Blockchain universities, leading and % of total - Blockchain, crypto and bitcoin jobs - Jobs per capita
đ¶ Proliferation - Crypto companies, incl per GDP - Bitcoin mining - Bitcoin nodes - ICOs (Initial Coin Offerings)
đČ Trading - crypto transactions volume - Crypto ownership and as % of the population
đ Fraud - Fraud cases
đ Environment - Green crypto firms (%) - ICOs on Energy - Environmental demerits
The crypto industry is poised for change in the coming months, as governments around the world work to implement effective regulations in the wake of the FTX collapse. While there is certainly some uncertainty in the air, the continued growth and stability seen in the latest rankings provide a glimpse of the bright future ahead for the crypto industry. Stay tuned for the latest developments, as the crypto world is sure to have a new twist in store in Q1 2023.
Here is the free report: https://coincub.com/ranking/q4-2022-global-crypto-ranking/
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