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London Crowned World’s Leading Cryptocurrency Hub, According to Study

Crypto tax firm Recap released a research report on Jan. 25, 2023, highlighting the top global cryptocurrency hubs, with London named the “most crypto-ready city.” Recap used criteria from eight elements, including the number of cryptocurrency businesses and employees, research and development spending compared to each city’s GDP, the number of cryptocurrency ATMs, cryptocurrency ownership, and capital gains tax rates.

Recap’s report details that London has the most people employed in the cryptocurrency industry compared to other global regions. The city is home to over 800 cryptocurrency-based companies and hosted the second-highest number of cryptocurrency-related events and conferences in 2022. The report states that London’s lead aligns with U.K. prime minister Rishi Sunak‘s goal to establish the United Kingdom as the world’s hub for cryptocurrency technology and investment.

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