UK Prepares for Mainstream Crypto Adaptation

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UK Prepares for Mainstream Crypto Adaptation

So far, cryptocurrencies have been mainly a form of investment, and traders used the assets’ fluctuations to gain profits. But nowadays, cryptocurrencies are finding their way into our lifestyles. Also, on a larger scale, some governments use cryptocurrencies to transfer funds and save their gold and USD reserves.

A Recent Cointelegraph report, drawing on research conducted by Recap, reveals that the United Kingdom is focusing on mainstream crypto adaptation to keep the country’s economy updated with the latest technological innovations. Statistics show that cash and coin payments in the UK dropped by 35% in 2020, showing the country’s readiness to embrace cryptocurrencies as a payment method. Cointelegraph had also previously reported that some sources claim the ‘digital pound’ roadmap will be introduced y mid-February.

Recap has also investigated the readiest cities worldwide for mainstream crypto adaptation based on eight factors, including the number of Crypto ATMs, blockchain firms, crypto-related jobs, crypto events, and the country’s crypto ownership. Other research variables analyze non-crypto elements such as quality of life, research and development budgets, and tax rates. The research results show that London is the most prepared city for crypto adaption regarding the number of employees with crypto incomes. Dubi and New York, respectively, fill the second and third positions. Also, at the bottom of the 50-rowed list are Melbourne, Delhi and Ankara.


Source: –UK Prepares for Mainstream Crypto Adaptation
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