Hong Kong Emerges as Global Leader in Crypto Market, According to New Study

Hong Kong has been identified as the most crypto-ready jurisdiction in the world, according to a recent study by Forex Suggest, a foreign exchange education platform. The city’s favorable tax policy, which does not impose capital gains tax on cryptocurrencies, has made it an attractive destination for individuals and businesses seeking to maximize their returns from investments. Hong Kong also boasts three blockchain startups per 100,000 people, securing its position as the second-highest in terms of blockchain startup density. The United States and Switzerland hold the second and third positions, respectively, in terms of overall crypto-readiness. However, the US has a lower density of crypto ATMs compared to Hong Kong, despite having a considerable number spread across the country. Regulatory authorities in the US have intensified their efforts to impose stricter regulations on bitcoin exchanges, prompting several exchanges to explore jurisdictions that offer more favorable regulatory frameworks.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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