While public acceptance remains the key to the existence of cryptography, the path to mass adoption of cryptography requires governments to create a supporting infrastructure that complements the demands of technology and people.
Factors such as the installation of cryptocurrency ATMs, regulations that support cryptocurrencies, a startup culture, and a fair tax regime signal a country’s readiness to accept cryptocurrencies. With these factors in mind, Forex Suggest research disclosed Hong Kong’s position as the most prepared country for widespread adoption of cryptocurrencies, with a crypto readiness score of 8.6. Despite having a larger crypto infrastructure than the island nation, the United States and Switzerland ranked in the top three with lower crypto readiness scores of 7.7 and 7.5 respectively, as shown below.
The most important factors taken into account in the study to calculate country readiness were the number of installed crypto ATMs, proportional to the population and geographic size of the jurisdiction, as well as the number of blockchain startups per 100,000 people. As a result, Hong Kong’s smaller land area helped the country top the list.
Data from CoinATMRadar shows that the US hosts 88% of the world’s cryptocurrency ATM installations. In contrast, a network of 146 crypto ATMs has been installed in Hong Kong, representing only 0.4% of crypto ATMs worldwide. Due to the smaller area, Hong Kong residents are never more than 7 kilometers away from a cryptocurrency ATM.
On the other hand, Switzerland has a crypto ATM every 161.5 miles (260 km), while the US has a crypto ATM every 168.3 miles (271 km).
Cryptocurrency taxes serve as the biggest deterrent to the mass adoption of cryptocurrencies. Hong Kong, Switzerland, Panama, Portugal, Germany, Malaysia and Turkey are tied for the top spot for the lowest crypto capital gains taxes.
The country’s efforts to develop a growing crypto infrastructure are largely dependent on investor sentiment. At the same time, investors from major economies such as Australia, Ireland and the UK have shown the most interest in cryptocurrencies, indicating healthy competition in support of cryptocurrencies around the world.
Opera Crypto Browser Integrates Coin98 to Support Web3 Accessibility in Southeast Asia
Opera Crypto Browser has redoubled its efforts to improve Web3 accessibility by announcing a partnership with Coin98, a decentralized finance (DeFi) platform in Southeast Asia, to increase Web3 accessibility.
By integrating Coin98, Opera’s crypto browser will be able to use a range of multi-chain non-fungible tokens (NFTs), decentralized exchanges (DEXs), cross-chain bridges and asset exchanges, as well as the ability to stake and lend to its cryptocurrency portfolios. , according to Thursday’s announcement.
Credit : cointelegraph.com