Who really owns the most crypto and why is that so? Since the inception of the world’s largest cryptocurrency, Bitcoin, in 2009, there have been many debates about which country is leading the way using this new digital technology. From Asia to Europe and all parts in between, there are many strong contenders for being on top of these lists.
One prime example is Japan – before April 2017 it was not legal tender at all throughout the country but now their government has even set up an ICO-friendly entity to help streamline regulation. It has even been said that they are trying to overtake China as the biggest manufacturer of blockchain technologies in Asia.
On top of this, they are also pushing ahead with crypto-related legislation when it comes to protecting investors against frauds and scams. They also have a new system in place whereby they can provide tax deductions and benefits for those who invest up to $1,700 each year.
With over 60% of the total crypto-trade taking place in Japan, it’s no wonder that many experts now think they are the ones leading the way towards mass adoption worldwide.
United Arab Emirates
Another country that is making some huge waves as of late is Dubai – this Middle Eastern city-state has been carving out its niche as a blockchain hub ever since its government announced earlier this year that they wanted to make all visa applications public on a distributed ledger by 2020.
This will allow people to see where money is going and what kind of deals companies are looking at making – this could be a world first and if it happens, will certainly help to cement Dubai as the blockchain capital of the Middle East.
Although these are just two examples of how cryptocurrency can change societies all over the planet for the better, there is still another country that now looks like it wants to give them a run for their money. That country is South Korea. This is partly because they have recently announced that they too want to be an ICO hub but also because of their great interest in mining cryptocurrencies directly.
South Korea Owns The Most Crypto?
This latest news has come after CoinDesk Korea reported that government officials had confirmed that they were considering allowing people living in the country to open up their virtual accounts for digital currencies on the exchanges. This was further cemented by a government official who said that “regulations are necessary because speculation has emerged in the cryptocurrency market”.
This is good news for those living in South Korea as it will no doubt be easier to purchase and sell digital currencies now that they have full access to the exchanges. It’s also good news for companies who are looking to expand even deeper into Asia because this means more potential investors within crypto-savvy societies like China, Japan, and Singapore.
Given all of this information, could it be possible that South Korea could end up being crowned the new King of Crypto? Only time will tell but there’s sure to be plenty more rumors over the next few weeks/months about which country will be named number one in the crypto stakes.
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