UAE ranks first in crypto-friendliness index, followed by Singapore and the United States

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MarsBit
03-23
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According to a study by Atmos, the United Arab Emirates (UAE) is the most enthusiastic country about cryptocurrency, scoring 98.4. This Middle Eastern country leads Singapore (97.5 points) by a narrow margin and is more than ten points ahead of the United States (85.4 points). The UAE achieved its top ranking despite having very few Bitcoin ATMs. For context, the third-ranked United States has 29,834 Bitcoin ATMs, while the UAE has only one. Nevertheless, the UAE's 25.3% cryptocurrency ownership and 210% adoption rate are sufficient to secure its top position. Meanwhile, Canada has the second-highest number of Bitcoin ATMs globally (3,561) but scored 72, ranking fourth. This score is attributed to its 10.1% cryptocurrency ownership and 225% adoption rate. In Turkey, economic uncertainty caused by currency depreciation has led to the third-highest cryptocurrency ownership rate (19.3%). However, its lower adoption rate and scarce Bitcoin ATMs (only 7) resulted in a score of 67.8, making it the fifth most crypto-friendly country. Although Switzerland has a double-digit cryptocurrency ownership rate (11.5%), its adoption rate of only 90% is the lowest among top-ranked countries, resulting in a score of 58.1. According to the research report, Switzerland's lower adoption rate in seventh place indicates a "mature market rather than an emerging adoption".

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