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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
The year 2021 has been great for digital currencies. We have seen Bitcoin hit multiple new all-time high prices and more institutional buy from major financial institutions and tech companies. Ethereum, the second-largest cryptocurrency, also notched its own all-time new highs, with the American government planning on seeking new regulations for cryptocurrency. While the investors' interests in digital assets skyrocketed this year, several other nations have also shown great enthusiasm for cryptocurrencies and are predicted to become cryptocurrency hotspots in 2022. In this article, we have listed 10 countries that have driven crypto adoption and recognition to new heights and will continue to do so in the next year and beyond that.
• United States: According to surveys, over the past 5 years, interest in cryptocurrency has increased by 3000% in the US. Around 6% of the population own or use crypto, and it is a growing trend. Almost a quarter of the US population has entrusted their valuable money to digital currencies. Recently, crypto has flourished in Miami, as its currently hosting one of the biggest blockchain events of the year.
• United Kingdom: The UK has been a firm supporter of Bitcoin and other cryptocurrencies. In fact, the UK government is looking for ways to further regulate the uses and practices of digital currencies in the country. Currently, the country stands at the 11th position in Europe's most regulated cryptocurrency country and is also planning to conduct a meeting on this purpose with Japan, European Central Banks, and other financial institutions.
• Czech Republic: Bitcoin is a rising star in the Czech Republic. Bitcoin transactions have enormously increased in the country and are spreading to larger groups where people are starting to notice the potential of this new technology. Downloads of the free Bitcoin-QT have increased and are slowly passing the records of the US.
• Vietnam: Vietnam has ranked second among 74 countries surveyed in terms of the percentage of respondents who said that they used or owned cryptocurrencies in the past year. A considerable number of Vietnamese users have turned their attention to the government, specifically, regarding how it can be effectively regulated for safe usage.
• Slovenia: Slovenia's cryptocurrency ecosystem is thriving. One of the major factors that make Slovenia a crypto capital is its welcoming crypto regulations. Hundreds of Slovenian retailers have started accepting transactions in cryptocurrencies, and this trend will significantly increase in the coming years.
• Philippines: The Philippines is considered one of the fastest countries to adopt cryptocurrency in 2021. The rise in crypto-friendly technology in the country has risen. Earlier, this year, the Vietnamese Prime Minister proposed the team conduct a detailed study on cryptocurrency so that the government can run its pilot program from 2021-2023.
• South Korea: In March 2020, the South Korean National Assembly passed new legislation that paved the way for the regulation and legalization of cryptocurrencies and crypto exchanges. Recently, the country is tightening its rules around the national crypto exchanges to eradicate risks and scams, and comply with the country's financial prospects.
• Netherlands: The Netherlands is an open supporter of cryptocurrencies, and has been a hotspot for crypto lovers. It allows its businesses to conduct transactions using digital currencies to exchange cryptos for products and services. Currently, the government is experimenting with its options and studying more about the impacts and opportunities revolving around blockchain.
• Turkey: At the crossroads of Europe and Asia, this country is home to several successful crypto companies and businesses. These companies have started sponsoring national football clubs, while football clubs also offer blockchain-based fan tokens. Even, certain Turkish investors have gone on the record to state that Bitcoin is their primary option for investment.
• Nigeria: Nigeria is a country with over 200 million people, who are mostly on the younger side and are tech-savvy. Most Nigerians are adept at sending money and paying through their phones using cryptocurrencies. But recently, the Nigerian central bank ordered lenders to stop facilitating crypto transactions over allegations they were being used for terror financing and money laundering.
