UAE ranks third globally in terms of blockchain start-ups – ITP.net

UAE ranks third globally in terms of blockchain start-ups – ITP.net

The 2022 Worldwide Crypto Readiness Report revealed that the UAE ranks third globally when it comes to the number of blockchain start-ups. The country has close to 120 blockchain start-ups or 1.2 blockchain start-ups per 100,000 people.

The report looks into the number of crypto ATMs, legislations, taxes surrounding cryptocurrencies, as well as the number of blockchain start-ups and the level of interest in crypto in order to find the most crypto ready countries.

The study highlighted that Hong Kong was number one on the list in terms of crypto readiness, The country was crowned the most crypto-ready as it ranked in the top three for three of the categories looked at, including the number of blockchain start-ups per 100,00 people and the number of crypto ATMs proportional to the population. Hong Kong also doesn’t tax capital gains on crypto, making it appealing to investors.