Seeking a crypto-friendly haven? Let's compare the most popular crypto cities where the blockchain fever never stops!
There are five top crypto cities (in terms of regulations, adoption and crypto friendliness) that are way ahead of the pack. However, one city tops the ranking and just stands head and shoulders above the others.
CoinMarketCap counted down to the top crypto city in the world. Make sure to read until the end as there is a special surprise waiting at the end.
5. Hong Kong
Hong Kong is one of the most dynamic and cosmopolitan cities in Asia.
And it's also one of the most crypto-friendly cities in the world.
It's home to some of the leading crypto businesses and organizations, such as Bitfinex, BitMEX and others. And Hong Kong is embracing crypto now more than ever.
But Hong Kong is not all sunshine and rainbows for crypto lovers.
It's under the influence of China, which has an unpredictable attitude towards crypto. Sometimes China is bullish on crypto, but it has also previously banned crypto exchanges, mining and trading crypto. And it has also launched its own digital yuan, which competes with crypto.
So while Hong Kong may be a great place for some aspects of crypto, it's not exactly a paradise for crypto lovers.
4. Singapore
Singapore is one of the most advanced and prosperous cities in Asia. It's also one of the most crypto-friendly cities in the world. It hosts leading crypto businesses and organizations.
The Asia Crypto Week 2023 will take place in Singapore.
To be honest, Singapore has multiple advantages as well as disadvantages for crypto lovers. It's one of the most regulated and compliant places for crypto in Asia. It follows the Payment Services Act, which requires crypto businesses to obtain a license from the Monetary Authority of Singapore and comply with anti-money laundering and counter-terrorism financing rules. It also imposes a goods and services tax on crypto transactions, which can add up to 7% to the cost. Singapore also has a history of shutting down crypto ATMs.
Overall, Singapore is a great place for crypto but not without its flaws.
3. San Francisco, USA
San Francisco is the technology capital of the United States and a major hub for crypto innovation and adoption. Some of the biggest and most influential crypto companies were founded in SF, such as Coinbase, Kraken and others.
Unfortunately, California is also one of the most regulated and competitive states for crypto in the United States. Crypto faces a lot of competition and pressure from other tech companies vying for talent and capital. The biggest crypto VC funds compete with many other loaded venture capitalists for the best ideas.
That’s why San Francisco is a good place for big crypto players but not an easy place to make it as a small fish.
2. New York City, USA
If you can make it there, you can make it anywhere. New York City is another major hub for crypto companies and projects, such as Gemini, ConsenSys and many many others. New York City has an abundance of Bitcoin ATMs, too. But it's also one of the most regulated and restrictive places for crypto in the world.
It's where the infamous BitLicense was introduced in 2015, which requires any business dealing with crypto to obtain a license from the state. This has resulted in many crypto businesses leaving or avoiding New York altogether.
Not to mention, New York City is one of the most expensive and crowded cities in the world. Overall, it is great for crypto, but mostly if you already have deep pockets.
1. Lisbon, Portugal
Lisbon is the capital and largest city of Portugal. It's also one of the most crypto-friendly cities in the world. It's home to some of the emerging crypto businesses and projects. Lisbon has a crypto-friendly tax regime, a burgeoning ecosystem and great quality of life at acceptable prices.
And it’s where CMC Lisbon, the hottest crypto and web3 conference of the year, will take place in February 2024.
CMC Lisbon: With this year’s theme being ”Catalyst,” CMC aims to bring together the world's brightest minds in technology and finance to reimagine the future of money. It will feature:
- The best speakers in crypto.
- Discussing the industry’s hottest topics.
- At Lisbon’s most impressive event venue.
Oh and yes, Lisbon is a crypto haven as well.
Make sure you attend the event in 2024!
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