Crypto Readiness Study Proclaims Hong Kong As Undisputed Leader In Global Market


Crypto readiness has become a pivotal factor in determining a jurisdiction’s potential as a global hub for digital assets, and in this regard, Hong Kong has emerged as a frontrunner. 

A new study has heralded Hong Kong as the most crypto-ready jurisdiction in the world, highlighting its proactive stance in embracing the realm of digital currencies. The city’s welcoming attitude towards digital asset investments and its forward-thinking approach to regulatory frameworks have positioned it at the forefront of the tech revolution.

How To Get Free Crypto  
Claim the JACKPOT with 55 FREE SPINS. Signup today to redeem your bonus.

Hong Kong has paved the way for digital asset companies to flourish within its borders. Recognizing the immense potential of bitcoin and blockchain technology, the city has actively attracted investments and nurtured an ecosystem conducive to their growth.

Source: Forex Suggest

Crypto Friendly Taxation, Blockchain Startup Density Elevate Hong Kong’s Appeal

A recent study conducted by Forex Suggest, a foreign exchange education platform, reveals that Hong Kong has garnered significant appeal among investors due to its favorable tax policy. 

Unlike some jurisdictions, Hong Kong does not impose capital gains tax on cryptocurrencies. 

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Play Now!

This tax advantage has made the city an enticing destination for individuals and businesses seeking to maximize their returns from investments.

Hong Kong also stands out for its vibrant blockchain startup ecosystem. The study highlights that the city boasts three blockchain startups per 100,000 people, securing its position as the second-highest in terms of blockchain startup density. 

Coinbase Banner  

The study further indicates that the United States and Switzerland hold the second and third positions, respectively, in terms of overall crypto-readiness.

Disparity in Global Crypto ATMs and Changing Regulatory Landscape

The United States holds the top spot in total crypto ATMs, with a considerable number spread across the country. However, when analyzing the availability of these ATMs relative to the population, the density is lower compared to other nations. 

This indicates that despite the significant overall count, the accessibility of crypto ATMs for US citizens is relatively modest.

BTCUSD trying to inch back up to the $$27K level. Chart:

Hong Kong, known for its limited land area, has managed to secure a noteworthy position in the crypto ATM landscape. With two ATMs per 100,000 people, totaling 149 ATMs, Hong Kong demonstrates a relatively higher concentration of these machines compared to the United States.

Despite making it on the list, regulatory authorities in the US have intensified their efforts to impose stricter regulations on bitcoin exchanges. These measures have prompted the cryptocurrency industry to call for more transparent and well-defined regulations to foster a conducive environment for their operations. 

FreeBitcoin Banner  

Consequently, several exchanges are actively quitting the US and exploring jurisdictions that offer more favorable regulatory frameworks.

-Featured image from Klook

Go to Source
Author: Christian Encila

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.