India 7th biggest nation ready to adopt crypto in 2023, US second | Check top 10 list | Mint
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Business News/ News / World/  India 7th biggest nation ready to adopt crypto in 2023, US second | Check top 10 list
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India 7th biggest nation ready to adopt crypto in 2023, US second | Check top 10 list

A new report on countries willing to adopt and legalise the currency to increase its accessibility has arrived.

FILE PHOTO: Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration (REUTERS)Premium
FILE PHOTO: Souvenir tokens representing cryptocurrency networks Bitcoin, Ethereum, Dogecoin and Ripple plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration (REUTERS)

Amid the Union Finance Minister Nirmala Sitharaman discussed global debt vulnerabilities and cryptocurrency assets on the sidelines of the G20 finance chiefs meeting, a new report on countries willing to adopt and legalise the currency to increase its accessibility has arrived.

According to HedgewithCrypto research, Australia is the biggest country when it comes to the adoption of cryptocurrency in 2023 with a score of 7.37 out of 10. The sale of cryptocurrency and other digital assets is legal and regulated in Australia. India emerged as 7th biggest nation ready to adopt crypto in 2023.

ALSO READ: FM Sitharaman, US Treasury's Yellen discuss debt, crypto assets

Following this, USA ranks as the second biggest country in crypto adoption with a score of 7.07 out of 10. Currently, there 33,630 crypto ATMs throughout the country.

Ranking wise, Brazil comes third with a score of 6.81/10 and has seen a huge increase in average monthly searches for crypto of 355%. A new bill signed in December 2022 legalizes cryptocurrency throughout Brazil.

Here's 10 countries ready for crypto adoption:

RankCountryCrypto adoption rate (%)Crypto ATMsIncrease in google searches since 2020 (%)Crypto ready score out of 10
1Australia182401967.37
2USA1633,6391667.07
3Brazil 24253556.81
4United Arab Emirates3462616.41
5Hong Kong 161462096.4
6Taiwan14402786.2
7India 2523166.12
8Canada142,6401856.1
9Turkey 40141236.07
10Singapore2502346.02

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ABOUT THE AUTHOR
Saurav Mukherjee
A business media enthusiast...believe to listen more, than just blabbering like others.
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Published: 23 Feb 2023, 06:38 PM IST
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