California is the best-prepared state for crypto assets in the US
The expansion of ATMs and crypto-related Google searches gave it the highest rating of 2.54 above the national average
A new investigation by Crypto Head determined that the state of California “has become the most suitable jurisdiction for cryptocurrencies in the United States” due to the spread of ATMs and its progressive interest in digital assets among citizens of the region.
The study on the best places for the cryptographic industry settlement showed that California obtained a rating of 5.72 points out of 10. Then there is New Jersey with 5.44 points; Texas 5.28 and New York 4.29 points. In addition, the state obtained the best national average 2.54 points higher.
The parameters evaluated in the study were: “Google searches related to cryptocurrencies, the presence of Bitcoin (BTC) and other cryptocurrency ATMs, and the number of blockchain-related invoices approved in each state.” California ranked first in the first two variables, which made up for the absence of explicit legislation on digital assets.
When conducting a comparative analysis with the other states on the results, it is observed that New York sanctioned eight bills related to cryptocurrencies, but it ranked 33 when it comes to the presence of ATMs for crypto.
For its part, New Jersey had the highest percentage in the number of ATMs installed per 10,000 square miles and ranked third in the search per 100,000 people, followed by Texas and Florida, which also scored well in the first two variables.
Strengthening of crypto market in the US
Americans, in 2020, “made $ 4.1 billion in realized profits from their cryptocurrency operations.” And bitcoin traded volumes surpassed those in Europe, Nigeria, and China combined. Additionally, this nation is a world leader in the installation and operation of Bitcoin ATMs with 86.4 % of the total installations, according to the figures reported by the cryptographic industry.
The success of digital assets in the US, “despite regulatory uncertainty and an impending infrastructure bill that could affect key segments of the blockchain economy” is due to the fact that they belong to the assets in which it is possible to invest.
M. Rodríguez
Source: cointelegraph
