A recent study has found Canada to be the 10th most ‘crypto-ready’ country in the world, ahead of Gibraltar and just behind Germany.
Focusing on measures including the number and accessibility of crypto ATMs, governmental legal stance on the ownership of cryptocurrencies, and the number of online crypto searches, educational platform Crypto Head has developed a thorough ranking of nations most prepared for the adoption of cryptocurrency.
Although Canada has the second-most crypto ATMs in the world (1,464) and per capita (26,265 people/ATM), it remains the only country in the top 10 to not achieve a full legislation score.
Adam Morris, co-founder of Crypto Head, observes:
“Some interesting findings in our Crypto Ready Index include the recent increase of interest in cryptocurrency from tax havens like Cyprus, Gibraltar, and the Cayman Islands. Our study found that these places fall in the top four countries that made searches for crypto between 2020/2021.”
“Our research also found that the United States is the most crypto ready for consumers, even though the government has been slow with regulation clarity over the last few years, which has actually driven most crypto business overseas.”
The full list of countries and criteria can be found here.
Search data is between May 2020 to April 2021. In the case of zero crypto ATMs, ‘People Per Crypto ATM’ is the country’s entire population. The legislation score is out of two, with a point being assigned if cryptocurrency is allowed to be owned, and another if it was allowed to be used in banks.