According to CoinWire, what are the cities most inclined towards crypto in 2024, where technology, regulation, and public perception converge to create a vibrant ecosystem for digital finance?
Let’s see below all the details about it.
The cities leading the crypto revolution in 2024
As anticipated, according to CoinWire, New York ranks at the top of cities in preparing for cryptocurrencies in 2024, reaching an impressive score of 85.85/100.
Its supremacy in the world of digital currencies is the result of its financial centrality, with Wall Street, once a stronghold of traditional finance, transforming into a prominent center for trading and the development of cryptocurrencies.
The key role of NYDFS in promoting a regulated environment, thanks to the BitLicense regulations, has significantly contributed to this statement.
London ranks second with a score of 84.15/100, supported by a solid regulatory framework and a vibrant technology scene, making it an ideal place for cryptocurrency companies and enthusiasts.
The Financial Conduct Authority (FCA) of the United Kingdom has played a key role in ensuring a safe environment for cryptocurrency investments, providing clarity and support.
Tokyo, despite being a center of technological advancements, ranks as the least prepared among the top 50 cities, with a modest score of 52.84/100.
Despite Japan recognizing Bitcoin as legal tender, the cautious attitude of regulatory authorities has negatively affected the city’s preparedness for cryptocurrencies.
Singapore emerges instead as the Asian leader with a score of 71.44/100.
Its well-defined strategy, a balance between rules and regulations that protect and encourage innovation, has made the city attractive to cryptocurrency companies.
The Monetary Authority of Singapore (MAS) has played an active role in creating regulations to support crypto businesses, while also fostering innovation.
A global perspective on the leading blockchain cities of 2024
In the United States, preparation for cryptocurrencies shows significant differences between cities.
San Francisco and Chicago, with vibrant tech communities and favorable regulations, stand out as the most crypto-friendly. In contrast, Manchester highlights the need to improve infrastructure and regulations, with a score of 47.02/100.
Los Angeles stands out with 1810 crypto ATMs, indicating the city’s efforts to promote digital transactions and the growing public acceptance of cryptocurrencies.
The dominance of the United States is evident with six out of the top ten cities with the highest number of crypto ATMs. Chicago, Miami, and Atlanta emerge as crucial hubs in the country’s commitment to ensuring access to digital currencies.
Los Angeles achieves a perfect score of 100 in cryptocurrency employment, becoming a sought-after destination for both startups and established companies.
Despite regulatory challenges, Singapore achieves a solid score of 98.57/100 in crypto employment, highlighting its strength in the labor market and competition for crypto talent in Asia.
Rome is positioning itself in the growing European crypto job market with a score of 96/100, thanks to a favorable regulatory climate and a thriving fintech industry, making the city attractive for cryptocurrency professionals.
