Why Zug Is Ranked as the Top Global Crypto Hub of 2023

Zug Singapore and London topped coin desks, crypto hubs list this year. Here's why I'm Jen Sani. You're watching coin desk daily, coin desk's crypto hubs 2023 list evaluated cities based on the ability to live freely and work smart in web three and Blockchain. Here are some of the highlights Z the tiny Swiss city where Batali Butin and his co founders launched Ethereum took the number one spot for its regulatory clarity, crypto friendly banks and a lively crypto job market. The Swiss government has embraced crypto working proactively to brand the region as Crypto Valley. Their version of Silicon Valley. The government has also experimented with allowing citizens to pay taxes with Bitcoin for crypto start ups. There are local crypto banks which provide the basics like tax statements, coin storage and deposit insurance. While it sounds like a crypto haven firms might have a hard time finding people to actually do the work. The city which has a population of less than 30,000 doesn't have a lot of developer talent. Number two on the list is Singapore after the collapse of homegrown crypto darlings to reform labs and €3 capital. This hub is searching for the right regulatory balance to encourage crypto without getting burned again. Businesses in this sector are seeking predictability and clear regulations. That's why the wealth regulated, efficiently governed city state hosts the headquarters or satellites of some of the biggest brands in crypto including Coinbase and crypto.com. The region also has the highest rating in the world for digital infrastructure and the second highest ranking in the World Bank's Ease of doing business index coming in at number three is London for its healthy grassroots crypto adoption, right? And a prime minister eager to attract the digital asset industry. With the London Stock Exchange being more than 300 years old. The extensive traditional finance infrastructure makes it a global hub for trading liquid assets including crypto Chris Dixon, founder of a 16 Z's crypto division cited the U K's predictable business environment as one of the factors decision to open its first office outside of the US there. This coupled with the fact that the country is home to some of the world's most respected educational institutions helps to feed top talent class into London's start up scene. Making it an appealing crypto hub. Get the full list of crypto hubs for 2023 on coindesk.com. That's a wrap for this special edition of coin desk daily and we'll see you next time.