Singapore ranked first in the index of the most crypto-friendly countries. Henley & Partners assessed countries on six dimensions, including cryptocurrency taxation and public acceptance. Russia was not included in the ranking.
Singapore topped the global index of most crypto-friendly countries. The rating includes 26 states, was prepared by the consulting firm Henley & Partners.
The index is based on six criteria: public and infrastructure acceptance of cryptocurrencies, state regulation in this area, including taxes, economic factors affecting market development, as well as innovation and technology.
Singapore scored 50.2 points out of a possible 60 (83.7%). It is followed by Switzerland with 78.1% and the United Arab Emirates with 76.1%. In Switzerland, experts noted a high level of security for cryptocurrency investors, and in the United Arab Emirates, a favorable tax climate.
Henley & Partners compiled the index based on data from many sources, including official statistics provided by governments and data from the World Bank.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
