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Is London the next home of crypto?

London

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TL;DR

  • London is in line to be a top crypto city
  • Recap ranks London first in cities that are crypto ready
  • Crypto adoption is still on the rise

The adoption of digital assets on a mainstream level has been attributed to a lot of infrastructure and settings. Some of these technologies include exposure and supporting systems that will help the asset thrive. However, there has been a notion that looking into the latest industries that crypto is breaking into, London is the next home for digital assets. Some indicators that show this are taxes, events, automated teller machines, and jobs.

Recap ranks London first in cities that are crypto ready

Prime Minister Rishi Sunak wants to ensure that the United Kingdom, especially London, is at the epicenter of technological development. His vision that buttresses this point is also pointing in the same direction, according to the released recap document.

The document used the data from the eight key points highlighted to show how prepared the country is for technology and innovation. According to Recap, Dubai is confidently placed in the top three positions, sharing the space with New York. However, in a surprising twist of events, Hong Kong slid down six places below its previous rankings to place lower on this list.

Crypto adoption is still on the rise

According to Recap, some factors looked into were the number of events in the city, crypto-related jobs, and offerings. Others have crypto ATMs, and the total amount of crypto firms carrying out their activities from the cities. Other considerations that did not detail crypto activities include research, development, and quality of life. Recap stressed that of the over 40 cities worldwide, London still houses the most workers in crypto jobs.

However, most of the other cities on the list boast more of the other metric than London, which pushes the case that crypto adoption is still going strong worldwide. In other news, England is currently mulling plans to launch a CBDC in the next few years. According to reports, the bank is now looking into the key details and every necessary information to launch the digital currency in 2030. However, in a step back for the sector, China has announced a ban on crypto trading across the country.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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