London most attractive city for crypto businesses: Recap Research
London, Dubai, and New York happen to be among the topmost three cities in terms of crypto readiness for businesses and startups
Image: Shutterstock
For crypto to become widely adopted, it needs regulations that support it and an infrastructure that makes it accessible to the public. Based on eight important factors, such as taxes, ATMs, employment, and events related to crypto, London is the best city in the world for companies and startups to engage in the crypto world.
Research conducted by Recap supports UK Prime Minister Rishi Sunak's goal of keeping the UK financial services sector at the forefront of technology and innovation. The study found that London is the most attractive city for businesses and startups in the crypto industry based on a review of eight key data points.
Dubai and New York are among the top three cities in terms of crypto readiness.
However, Hong Kong, which was previously ranked as the most crypto-friendly city in 2022, has dropped to seventh place in this research. The study analysed 50 major cities with infrastructure that supports the widespread use of crypto.
The study evaluated several factors to determine a city's readiness for crypto adoption, including the number of crypto events, employment opportunities in the crypto industry, presence of crypto-focused companies, and the availability of crypto ATMs.
