• London, Dubai and New York have been ranked as the top 3 crypto hubs, with over 800 crypto-based companies active in the UK’s most populous city.
• Recap’s annual list of top crypto hub cities for 2023 looks at key metrics like tax status, quality of life index and the overall number of crypto companies and specialists in a given metropolitan area.
• Singapore has 25% crypto ownership, more than 800 crypto companies, and over 1,000 industry workers.
London: World’s Second Highest Number of Crypto Companies
London was praised for having over 800 crypto companies and an estimated 2,173 people working in crypto-related jobs; the highest number of people working in the industry compared to anywhere else. It topped Recap’s annual list of top crypto hub cities for 2023 looking at key metrics such as tax status, quality of life index, and the overall number of cryptocurrency companies and specialists in a given metropolitan area.
Dubai: Regulatory Open Door Policy for Crypto
Coming in second place is Dubai with industry behemoth Binance (and CZ himself) based there. The Emirate has adopted a regulatory open door policy when it comes to regulating cryptocurrencies. There have been efforts to explore how blockchain innovations, exchanges, and OTCs help build up a flourishing DeFi industry within its borders which is home to many entrepreneurs.
New York: Significant Investment In R&D
Third on the list is New York which boasts significant investment in R&D employing over 1,400 people into cryptocurrency related positions with 843 firms specializing in this field. Several large conferences are also held here annually making it one of the main players towards widespread adoption of digital assets worldwide.
Singapore: Tax Free Crypto Investing
Fourth on Recap’s list is Singapore another hub for cryptocurrency taxation but without any capital gains tax on investors who own cryptocurrencies which has attracted many investors into exploring various opportunities within this space leading to 25% ownership rate from citizens along with 800+ firms providing services centered around digital assets plus 1000+ individuals employed by these firms making them one of most important players towards mass adoption worldwide..
Los Angeles & Zug: Growing Crypto Communities
Los Angeles follows suit as 5th on this list lauded for developing a thriving cryptocurrency community while Zug at 6th spot known as “crypto valley” houses private equity investment firms like Dialectic along with Bitcoin/Ethereum Foundations alongside numerous other startups plus NFT galleries offering favorable conditions to those interested in investing into digital asset marketplaces or simply just participating these new technologies