The crypto industry has proven to keep evolving with time. Many people from different parts of the world have accepted this digital currency concept since the creation of the first cryptocurrency.
This has gone beyond individual adoption and is seen in cities, businesses, governments, organizations, and lots more.
Now, one may be asking which cities in the world have more interest in blockchain space. Continue reading this study by CoinWire to find out.
Identifying the cities with a good interest in blockchain activities was done by assessing factors like the number of cryptocurrency jobs in the city, crypto-related events, companies, ownerships, and lots more.
1. New York
According to a CoinWire report, New York takes the top spot as the city with the most ready customers. Also known as "The City That Never Sleeps," NYC has shown dominance in the financial sector for many years.
Thanks to Wall Street evolving into a center for blockchain trading, companies, and other related activities. CoinWire rates New York a top score of 85.85 out of 100 for overall readiness.
This readiness in crypto activities has been kept in check by regulations from The New York Department of Financial Services (NYDFS).
The NYDFS regulations have given consumers confidence and a conducive ecosystem in the crypto industry via mandated BitLicenses.
2. London
The city of London comes in second in CoinWire's rating with a score of 84.15 out of 100.
London is known for its top financial regulatory body, the Financial Conduct Authority (FCA) which gives blockchain and tech communities a thriving environment.
The FCA, a leading financial regulatory body in Britain, has implemented proactive cryptocurrency regulations.
These regulations, designed to ensure consumer protection and prevent illicit financing, serve as the framework for responsible and thriving blockchain innovation in the UK.
3. Singapore
Singapore comes as the city with the most ready crypto ecosystem in Asia. Having a 71.44/100 score in this study's rating comes as a result of its well-organized regulatory body.
Singapore's Monetary Authority has enacted rational regulations encompassing blockchain payments and trading platforms.
This framework enables crypto businesses to operate within the bounds of legality, eliminating regulatory ambiguity.
Concurrently, Singapore's widespread embrace of digital innovations creates a favorable environment for such ventures.
4. Tokyo
Tokyo is popular for its involvement in technology activities which cuts across the blockchain industry – leaving it fourth on the list with a score of 52.84/100.
The careful approach adopted by Japanese financial regulators is a contributing factor.
The rigorous supervision creates challenges in the operational environment for blockchain exchanges and other entities. This relatively closed atmosphere contrasts with Tokyo's reputation as a technology hub.
New York is at the forefront of the worldwide blockchain movement, using its strong financial influence and well-defined regulations. London is right behind, benefiting from its financial hub status and forward-thinking rules.
In Asia, Singapore shines brightly in the cryptocurrency space, while Tokyo's slower pace suggests a more cautious approach to regulations.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.