Countries that have embraced crypto innovation:
The number of companies holding cryptocurrency in Brazil has reached new record highs -the country’s taxation authority recorded 12,053 unique organizations declaring crypto on their balance sheets in August 2022.
The United Kingdom
The Financial Services and Markets Bill, introduced in July, reasserted the U.K.’s intention to become a global cryptocurrency hub. It broadened regulations of stablecoins and coined a new term Digital Settlement Assets (DSA).
At the beginning of 2022, 20% of businesses have started accepting BTC as a payment method. In May, El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-day conference.
The Central African Republic
In April, Central African Republic (CAR) became the first nation on the continent to legalize the use of cryptocurrencies in the financial markets. The cryptocurrency bill allowed traders and businesses to make crypto payments and also make way for tax payments in crypto through authorized entities.
United Arab Emirates
In March, Dubai established a legal framework for crypto aimed at protecting investors and “designing much-warranted international standards” for industry governance.
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