Germany The Most Friendly Country Of Crypto In The World, Indonesia No. 8 Crypto Asset Holders

JAKARTA - Germany has become the world's most friendly and profitable crypto economy country in the third quarter of 2022. The United States, the top-ranked holder together from the last quarter, fell six places to seventh in the top crypto economy.

While the Vietnamese people are the largest crypto holders, with more than 20 million or nearly 20% of the population investing in crypto. The US has more than 46 million crypto holders or nearly 13% of the population investing in crypto.

Indonesia itself is the number eight country in the world with a number of crypto holdings reaching 12.2 million people or about 4.4 percent of its population owns crypto assets.

Crypto economic rankings compiled by Coincub look into factors such as favorable crypto prospects, clear crypto tax rules, and more transparent regulatory communications to determine the country's rankings.

Germany, though not a tax haven, is considered one of the strongest traditional tax' crypto economies to reward long-term crypto holders. German law imposes a zero tax on crypto holdings for more than a year.

Just in: Q3 2022 Global crypto ranking - Germany tops, USA drops➡️ 1. Germany 🇩🇪 ⬆️ 2. Switzerland 🇨🇭⬆️ 3. Australia 🇦🇺⬆️ 4. UAE 🇦🇪⬇️ 5. Singapore 🇸🇬⬆️ 6. Malaysia 🇲🇾⬇️ 7. The United States 🇺🇸⬆️ 8. Hong Kong 🇭🇰⬆️ 9. The Bahamas 🇧🇸⬆️ 10. Taiwan 🇹🇼#Crypto #Rankings pic.twitter.com/CJaKaWm8uL

— Coincub (@Coincub_) October 17, 2022

Switzerland is in second place with a positive crypto regulatory stance and is home to some of the top crypto organizations in the world. The next three places on the list were won by Australia, the United Arab Emirates, and Singapore, respectively.

Australia has shown great appetite for crypto and the government has jointly supported it over the past year, prompting a positive crypto law along with a reasonable tax policy.

The UAE has invested heavily in Web3 and has a very attractive taxless policy for crypto profits. Singapore, on the other hand, has established itself as a crypto power plant in Asia, with most of the population engaged in crypto trading and investing.

The US dropped to seventh place due to an unfavorable crypto tax policy and a lack of clarity about regulations. However, the report highlights that the US is the only country that allows crypto to be part of a strategic pension in the workplace.

With some major crypto laws and regulations being worked on, the US could see a significant increase in its ranking in the following quarter.

Among the top crypto-curous countries determined by the number of related searches Bitcoin, El Salvador is at the top of the list again, followed by Nigeria and the Central African Republic.