Hong Kong is reportedly the most crypto-ready nation in 2022

A recent global crypto readiness report explored the digital asset regulations and taxations rules in each country, the number of blockchain startups, the number of crypto ATMs, and the interest in the market per capita to find the most crypto-ready country in the world this year.

The shocking revelation states that the special administrative region of China – Hong Kong, with a score of 8.6 out of 10, is the most crypto-ready nation in the world. The United States of America, which was 2021’s winner, sits at the second spot, with 7.7 points out of 10.

The Hong Kong government is quite receptive to the sector and does not levy taxes on investors and firms that create income from crypto trading. Thanks to its limited territory, the density of crypto ATMs is among the highest, as there are two machines for every 100,000 inhabitants. Overall, the state collected a score of 8.6 points out of 10.

The world’s leading economy and previous leader in the race, the USA, earned 7.7 points. The country has around 33,000 crypto ATMs, suggesting there are ten units per 100,000 inhabitants.

Switzerland is the third most crypto-ready nation in 2022

Switzerland, which is the third most crypto-ready nation according to the report, scored 7.5 points. The country, recognized as one of Europe’s financial capitals, does not tax crypto earnings and is home to a wide variety of blockchain companies. It is also worth remembering that earlier this year, the authorities of the Southern Swiss city Lugano displayed ambitions to introduce Bitcoin (BTC), Tether (USDT), and LVGA Points cryptocurrency as legal tender. Notably, in March, the City of Lugano also partnered with Tether to help it in boosting crypto adoption in the region, as TheCoinRise reported.

Georgia, the United Arab Emirates, Romania, Croatia, Ireland, and the Czech Republic round out the top 10 crypto-ready nations. Slovakia, Greece, Panama, and Bulgaria tie for tenth place.

The study covers the interest that various countries have in the digital asset market as well. With 4,579 out of 100,000 persons searching “cryptocurrency” on Google, Australia came in #1. With 3,472 searches, Ireland is in second place, and the UK is in third with 3,409.