London emerges as world’s most crypto-ready city for business — Research


Along with pro-crypto regulations, mainstream adoption of cryptocurrencies requires a supporting infrastructure that can allow the general public access and exposure to the ecosystem. When considering eight key indicators around taxes, ATMs, jobs and events in crypto, London stands at the top as the most crypto-ready city in the world for businesses and start-ups.

UK Prime Minister Rishi Sunak’s vision to “ensure the UK financial services industry is always at the forefront of technology and innovation” is on the right path, reveals research conducted by Recap. An examination of eight key data points determined London to sport the highest crypto-readiness to entice businesses and start-ups.

How To Get Free Crypto  

Top 20 crypto-ready cities in the world. Source: Recap

As shown above, leading metropolitan cities such as Dubai and New York made it to the top three in the list. However, Hong Kong, which was positioned as the most crypto-ready country in 2022, fell to seventh place in the research.

Top 50 crypto hubs, city-wise comparison. Source: Recap

The above list shows the top 50 major cities that have an infrastructure ready to experience the mass adoption of cryptocurrencies.

Some key factors considered in the study include the total number of crypto-specific events, crypto-related jobs, crypto-specific companies and the number of crypto ATMs. Some of the non-crypto considerations include quality of life, R&D spend as a percentage of GDP and capital gains tax rate.

Out of the lot, London is home to the most number of people working in crypto-related jobs — an indication of higher interest among the general public in the crypto ecosystem. However, cities from other geographies overshadow London in other metrics, strengthening the case for the global adoption of cryptocurrencies.

Coinbase Banner  

Related: Bitcoin nodes data: Frankfurt houses the largest city-wide network

Steering forward in the quest to stay at the forefront, the Bank of England (BoE) and the United Kingdom Treasury highlighted the need to create a central bank digital currency (CBDC) by 2030.

Cointelegraph previously reported that sources claim that the “digital pound” roadmap is set to be introduced by mid-February. The UK reportedly experienced a 35% drop in cash and coin payments in 2020 — a clear indication of an incoming era of digitization.

Go to Source
Author: Arijit Sarkar

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.