Despite the lack of a clear legal framework for cryptocurrencies, the United States has positioned itself as the world’s most crypto-ready country, based on crypto ATM saturation, legislation, and Google searches.
The United States received a high score of 7.13 out of ten in the Crypto-Ready Index for 2021, courtesy of research company Crypto Head.
Source: Crypto Head
Singapore, Hong Kong, and the United Kingdom round out the top five. Ireland, Slovenia, Australia, Germany, and Canada were all among the top 10 countries.
Cyprus was voted the world’s second most crypto-ready country because of the significant rise in Google searches over the previous year.
Crypto in the United States
According to the findings published on Thursday, the United States has the most crypto ATMs in the world, with over 17,000, considerably outnumbering the next closest nation, which has about 16,000 fewer. It also revealed that cryptocurrency ownership and usage in banks are legal in the United States and that cryptocurrency searches had increased by 140% last year.
Cryptocurrencies like Ether and Bitcoin are considered commodities by the United States Commodity Futures Trading Commission and the Securities and Exchange Commission.
When the departing Trump administration pushed for stricter regulation on self-custodies wallets last year, the United States seemed to be on the brink of regressing on the regulatory front. With the nomination of Gary Gensler, a crypto-friendly legislator, to the post of SEC Commissioner under President Joe Biden, the White House seems to be taking a more positive attitude on the digital asset.
On the other hand, despite a continuous inflow of new bitcoin users in the United States, including some members of the Wall Street elite, the future regulatory framework remains unclear. Future crypto laws in the United States are anticipated to be shaped by the Commodity Futures Trading Commission and the Treasury Department’s Financial Crimes Enforcement Network.
