LONDON, United Kingdom – A recent study by Recap has named London as the most “crypto-ready” city in the world for businesses and start-ups. The examination of eight key indicators such as taxes, ATMs, jobs, and events in the crypto industry determined that London is leading the way in the adoption and integration of cryptocurrencies.
United Kingdom’s Pro-Crypto Stance Boosts London’s Position
United Kingdom Prime Minister Rishi Sunak’s goal to “ensure the U.K. financial services industry is always at the forefront of technology and innovation” is reflected in London’s standing as the top crypto-ready city. The city boasts the highest number of people working in crypto-related jobs, indicating a strong interest in the crypto ecosystem among the general public.
Key Indicators of Crypto Readiness Examined
The study considered various factors in determining the crypto-readiness of a city, including the total number of crypto-specific events, crypto-related job opportunities, the number of crypto-specific companies, and the availability of crypto ATMs. Non-crypto considerations such as the quality of life, research and development spending as a percentage of GDP, and the capital gains tax rate were also taken into account.
London Dominates in Crypto Job Opportunities
London emerged as the leader in the number of people working in crypto-related jobs, a significant factor in the city’s high crypto-readiness score. However, other cities surpass London in some metrics, emphasizing the growing global interest and adoption of cryptocurrencies.
The study by Recap highlights London’s position as a global leader in the adoption and integration of cryptocurrencies. With the United Kingdom’s pro-crypto stance and a supporting infrastructure in place, London is well-positioned to attract businesses and start-ups in the crypto industry. The growing number of people working in crypto-related jobs and the high availability of crypto-specific events and companies further solidify London’s status as the most crypto-ready city in the world.