The UAE Crypto-Friendly Index Ranks First Globally, Followed by Singapore and the United States

BlockBeats News, March 23rd, according to a study by Atmos, the United Arab Emirates (UAE) is the most crypto-friendly country globally, with a score of 98.4. This Middle Eastern country narrowly leads second-place Singapore (97.5 points) and is more than ten points ahead of third-ranked United States (85.4 points).

The UAE achieved its top ranking despite having very few Bitcoin ATMs. For context, the report describes that the United States, ranked third, has 29,834 Bitcoin ATMs, while the UAE has only one. Nevertheless, the UAE's 25.3% cryptocurrency ownership rate and 210% adoption rate are sufficient to secure its top position.

Meanwhile, Canada has the second-highest number of Bitcoin ATMs globally (3,561 machines), but with an overall score of 72, it ranks fourth. This score is attributed to its 10.1% cryptocurrency ownership rate and 225% adoption rate. In Turkey, due to economic uncertainty triggered by currency devaluation, its cryptocurrency ownership rate ranks third (19.3%). However, the country's low adoption rate coupled with a scarce number of Bitcoin ATMs (only 7 machines) result in a score of 67.8, making it the fifth most crypto-friendly country.

Although Switzerland boasts a double-digit cryptocurrency ownership rate (11.5%), its adoption rate is only 90%, the lowest among top-ranking countries, leading to a score of 58.1. According to the research report, Switzerland's seventh-place ranking and low adoption rate indicate that it is a "mature market rather than an emerging adopter."