Germany has overtaken the US to become the world's top-ranked crypto economy in the third quarter of 2022, a study conducted by Coincub suggests.
The crypto rankings were based on various factors such as favourable crypto outlook, clear crypto tax rules and clearer regulatory communications to rank nations.
"Based on a wide range of ranking criteria, Germany has a positive crypto outlook and is one of the strongest all-around ‘traditional-tax’ crypto economies – as opposed to pure tax havens, for example," the report read.
Germany has become well known for rewarding long-term crypto holders, even though the country is not a tax haven. According to the country's law, the tax does not apply to crypto holdings of over a year.
Furthermore, the country is also considered to be the top all-around "traditional-tax" crypto economy.
According to another March 2022 report from crypto exchange KuCoin, given that Germany is the first nation to recognize Bitcoin as a unit of value, 44% of...
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