Germany is the best country for crypto, the Netherlands is falling in the ranking

Last year and the past quarter a lot has changed in the crypto industry. Not only have the prices of many cryptocurrencies dropped to sell-out levels, the situation at the country level has also changed. Some countries are making progress, while others have become less friendly to the market. Germany was also number one in the third quarter.

Germany continues to lead

That writes Coincube in a report. This company posts a ranking of which countries were the best for the crypto industry every year and every quarter. In the first quarter this was Germany, in the second quarter there were both Germany and the United States on a. But in the second quarter, Germany no longer shared this position, when the US slipped into third place. The third quarter did not do the US much good, as it is now number seven.

Switzerland and Australia are now in second and third place respectively. The position is new for both countries, they were still in fifth and fourth place in the second quarter. In addition to the US, Singapore has also provided additional space. This country has dropped to fifth place.

Germany’s strong position is remarkable because it has been very consistent so far. Coincub attributes this, among other things, to the favorable tax arrangements that are aimed at the long term, but also to a progressive attitude towards regulation. It is clear to companies where they stand, and this is reflected in how the financial industry is dealing with it. Some reputable German financial institutions are known to invest in cryptocurrencies.

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The Netherlands is in decline in crypto

The Netherlands has fallen sharply. In the first two quarters of this year it was in seventh place, but now it has fallen to thirteenth place. The growth of the industry in the Netherlands and its activity in the financial industry are the two points on which we score the highest.

Improvements are possible in areas such as regulation and taxation. Unfortunately, we do not have details about the drop in the ranking, but the regulation now scores the Netherlands fewer points.

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