July 24, 2024
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London Emerges as the World’s Most Crypto-Ready City for Business — Research

An assessment of eight critical data criteria revealed that London has the best crypto preparedness to attract enterprises and start-ups.

Along with pro-crypto policies, widespread cryptocurrency adoption needs a supporting infrastructure that allows the general public access and exposure to the ecosystem. When eight crucial factors, like taxes, ATMs, jobs, and crypto events, are considered, London ranks first as the most crypto-ready city in the world for enterprises and start-ups.

According to the Recap study, UK Prime Minister Rishi Sunak’s ambition to “guarantee the UK financial services industry is constantly at the forefront of technology and innovation” is on the right track. An assessment of eight important data points revealed that London has the best crypto-readiness to attract corporations and start-ups.

Leading metropolitan cities such as Dubai and New York made it to the top three on the list, as seen above. However, Hong Kong, which was predicted to be the most crypto-ready country in 2022, dropped to eighth place in the study.

The top 50 cities with cryptocurrency infrastructure suitable for mainstream adoption are listed above.

The overall number of crypto-specific events, crypto-related occupations, crypto-specific organizations, and the number of crypto ATMs are some essential elements addressed in the study. Non-crypto issues include quality of life, research, development investment as a proportion of GDP, and capital gains tax rate.

London has the most individuals working in crypto-related jobs, indicating that the general population is more interested in the crypto environment. However, other cities outperform London on several criteria, bolstering the case for worldwide cryptocurrency acceptance.

To remain competitive, the Bank of England and His Majesty’s Treasury have emphasized introducing a central bank digital currency by 2030.