Slovenians Emerge as the Biggest Cryptocurrency Enthusiasts in the EU
According to a recently published study conducted by the virtual currency gambling platform cryptogambling.tv, Slovenia has emerged as the most cryptocurrency-friendly country in Europe. Researchers analyzed the number of online search queries related to cryptocurrency and then ranked these figures according to the population, as reported by Finextra.
The results of the study placed Slovenia at the top spot, with an average of approximately 4,789 cryptocurrency-related queries per 100,000 people overall.
Luxembourg, the Netherlands, Finland, and Turkey also made it to the top five.
Slovenia is the birthplace of the non-profit organization Blockchain Alliance Europe and the provider of crypto infrastructure, GoCrypto. The country is also known for its significant number of retail outlets that accept cryptocurrency payments.
However, other countries in the top ten have stricter regulations on cryptocurrency. For instance, the Netherlands impose taxes on unrealized profits from cryptocurrencies. Laws perceived as unfavorable to cryptocurrencies might actually pique investor interest.
A representative from the conducting company noted, "While it might seem strange to see countries that are less friendly towards cryptocurrencies in the top ten, the mentioned legislation has drawn attention and generated interest in understanding what cryptocurrency is all about. For many people, cryptocurrency remains something new, and many are yet to know about it. Therefore, any public information, be it legislation or general news, inevitably sparks curiosity, as evidenced by the Google search queries in this study."
Recalling data from the leading blockchain analytics company Chainalysis, Ukraine secured the third place in the global cryptocurrency adoption index in 2022, trailing only behind Vietnam and the Philippines.
Meanwhile, Singapore could become the world's first country to regulate stablecoins. The Monetary Authority of Singapore (MAS) is already proposing key requirements for this type of cryptocurrency, including the obligation for stablecoin issuers to maintain reserves in low-risk and highly liquid assets and the redemption of the nominal value of the digital currency from holders within five business days of receiving a request.