A study by Recap placed Dubai as the second most crypto-ready city globally.
The report had London in the first position due to its thriving startup landscape and financial systems.
Major crypto companies and exchanges have already established themselves in UAE.
A report released by Recap, a crypto tax software, and portfolio tracking company, ranked Dubai as the second most crypto-ready city in the world on account of its zero percent crypto tax and high quality of life. The study ranked London as the number-one crypto hub globally due to its financial infrastructure and growing startup culture.
New York, Singapore, Los Angeles, Zug, Hong Kong, Paris, Vancouver, Bangkok, Chicago, Berlin, Sapporo, Lagos, Lisbon, Kuwait City, Tehran, Sydney, Osaka, and Kuala Lumpur are the other cities on the top 20 list. Recap placed Jeddah and Riyadh 22nd and 25th, respectively.
To ascertain if the world’s most populous cities are crypto-ready, the study looks at eight crucial factors. This comprises the quality of life score, cryptocurrency-specific events, individuals working in cryptocurrency-related fields, cryptocurrency businesses, R&D spending as a proportion of GDP, the number of cryptocurrency ATMs, the capital gains tax rate, and cryptocurrency ownership in each nation.
The Recap team stated that,
Dubai Second Most Crypto-Ready City In The World: Ranked By Recap appeared first on Coin Edition.
