Poland friendly to the cryptocurrency industry. It ranks 12th in the world

It turns out that all you need to do is do not disturb to be in the forefront of countries in the world that are the most friendly to blockchain technology and cryptocurrencies. According to the latest Global Crypto Ranking Guide for Q4 2021 reportprepared by the company coincub from Ireland, Poland took the high 12th place in the world. China has fallen to last place.

Although a lot has been happening on the global cryptocurrency market recently, practically nothing has changed in Poland. The authorities do not take up the topic of cryptocurrencies, nor do they plan to introduce a digital zloty, and blockchain technology is probably black magic for most MPs and senators. But they also do not want to fool around (at least some of them), so they do not disturb and do not introduce restrictions, which is not so obvious in other countries.

China against cryptocurrencies, but not its own

In recent months, of course, most has been happening in China. This is where the authorities are they promote digital yuan, while limiting, or actually completely destroying, companies that mine other cryptocurrencies. 

After the recent air raids, cryptocurrency mines, which mainly deal with mining, have been completely closed bitcoin. Their owners, who until recently were involved in legal business and paid hefty taxes, were overnight "outlawed" and are in big trouble, and equipment for millions has been destroyed. The only legal cryptocurrency in China is to be the digital yuan. 

So it is no surprise that China has fallen to last place in the ranking. 

How Cryptocurrency Friendly Countries Ranking Is Compiled

The ranking is created after examining many criteria. It is assessed, among others government policy (which lowered China's rating so much), but also the general acceptance of this market sector and specific tax regulations dedicated to cryptocurrencies or other regulations and legal requirements. 

El Salvador is the friendliest for cryptocurrencies

In the ranking for the fourth quarter of this year, we have a surprise, because Singapore is the leader for the first time. The former leader, i.e. the USA, fell to third place, and Australia was also ahead of him. The next positions in the top ten are taken by: Canada, Germany, Sweden, Portugal, Switzerland, Japan and El Salvador.

El Salvador, the tenth, was included in the ranking for the first time. This is the result of bold decisions by the authorities that announced that Bitcoin becomes the official currency in this country. You can pay with it not only in private companies, but also settle all state liabilities. Recognition of BTC as the official currency is a bold step that has been appreciated by the creators of the ranking.

Poland was also in the list, classified on the 12th place. China is last, followed by Russia, which has recently also banned the use of cryptocurrencies to pay for services and goods. 

Which country has the most cryptocurrency holders?

We can also learn some interesting facts from the report. For example, that 8% of all cryptocurrency owners live in the US. The next two places are taken by quite small countries: Singapore i Salwador. 

Some trends are also visible, which means that some countries may soon move up in the ranking. Among them is, for example, Sweden, which is testing the state e-crown, and has already become a practically cashless society. Japan is also positively surprised by its intention to lower the tax on cryptocurrency profits, although such a proposal was previously rejected by the Minister of Finance. The currently 22nd place is also leaning towards cryptocurrencies Denmark and 25th place Indie.