Research: Germany has become the most open to cryptocurrencies country in the world

According to a new study by Coincub, Germany has displaced Singapore as the most cryptocurrency-friendly country.

In total, analysts evaluated 45 countries in terms of their attitude towards digital assets. The top five include Germany, Singapore, the United States, Australia, and Switzerland. At the end of last year, Singapore was recognized as the leader, but now analysts have put it in second place due to the actions of the local regulator, which banned cryptocurrency advertising and the installation of cryptomachines.

«Germany has taken the top spot in terms of its attitude to cryptocurrency trading and investment. It has moved up three places in our ranking. It is already the largest country in terms of the number of bitcoin nodes except for the United States. However, given its smaller population and GDP, this suggests even greater adoption per capita,» Coincub analysts write.

The researchers also note that there have been «several positive developments» over the past few months, such as the issuance of a license to the German division of Coinbase. And the stock exchange operator Deutsche Boerse has added more than 20 cryptocurrency exchange products to its Xetra platform.

A recent survey conducted by the KuCoin cryptocurrency exchange showed that 44% of German residents are ready to invest in digital assets, and 37% have been actively trading cryptocurrencies for more than a year.