The UK is one of the world’s most crypto-friendly nations alongside the US, Cyprus, Hong Kong and Singapore, according to new research.
A report from Crypto Head showed that the UK was the country fifth most friendly towards crypto adoption based on factors including the number of crypto ATMs in the country, their accessibility, the government’s legal stance on the ownership of crypto, whether or not it can be used in banks and the number of online searches for crypto.
The research indicated that the UK has around 200 crypto ATMs, one for every 333,984 people, as well as 21,154 crypto-related Google searches annually per 100,000 people.
However, the US was rated most favourable to crypto overall, with one crypto ATM for every 19,023 people, well above the UK’s level, making for 17,436 crypto ATMs in total. Searches for crypto in the US, however, were well below the UK at 14,796 per 100,000 people annually.
Coming in second place behind the US was the Mediterranean island of Cyprus, followed by Singapore and Hong Kong. Other countries rated in the top 10 included Ireland, Slovenia, Australia, Germany and Canada.
One quirk in the data, however, was that despite being the second most friendly crypto jurisdiction, Cyprus does not have a single crypto ATM within its borders.
However Crypto Head noted that the level of interest in crypto in the country was the highest of any nation in the world, which coupled with the legality of crypto ownership and its use in banks had lifted its position in the rankings.