In addition to crypto-friendly regulations, widespread crypto adoption requires a supporting infrastructure that allows the general public to access and be exposed to the ecosystem. If they are taken into account eight key indicators across taxes, ATMs, jobs and crypto-related events, London tops the list as the world’s most ready city for crypto-related companies and startups.
The vision of Rishi Sunak, the Prime Minister of the United Kingdom, to “ensure that the UK financial services industry is always at the forefront of technology and innovation” is on track, according to an investigation carried out by Recap. An examination of eight key facts determined that London is the city most poised to attract cryptocurrency-related companies and startups.
As shown in the above image, Leading metropolitan cities like Dubai and New York took the top three spots on the list. However, Hong Kong, which was ranked as the most crypto-ready city in 2022, fell to seventh place in the research.
The above list shows the top 50 cities with an infrastructure ready for mass cryptocurrency adoption.
Some key factors considered in the study include the total number of crypto-specific events, crypto-related jobs, crypto-specific companies, and the number of cryptocurrency ATMs.. Some of the non-cryptocurrency considerations are quality of life, research and development spending as a percentage of gross domestic product, and capital gains tax rate.
Of all of them, London is home to the most people working in jobs related to cryptocurrencies, indicating increased interest from the general public in the crypto ecosystem. However, other cities shadow London on some metrics, strengthening the case for global cryptocurrency adoption.
Moving forward in the quest to stay ahead, the Bank of England and Her Majesty’s Treasury stressed the need to launch a central bank digital currency by 2030.
Cointelegraph previously reported that there are sources claiming that the “digital pound” roadmap will be unveiled in mid-February. According to reports, the UK saw a 35% decline in cash and coin payments in 2020, indicating a trend towards cashless transactions.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.
