The United States, which was the joint top-ranked crypto economy last quarter along with Germany, fell to seventh place in the rankings.

Germany has become the most favorable crypto economy in the world in the third quarter of 2022, according to a new report. The United States, the joint top-rank holder from last quarter, fell six places to rank seventh on the top crypto economy.

The crypto economy rankings compiled by Coincub looked into various factors such as favorable crypto outlook, clear crypto tax rules and more transparent regulatory communications to rank countries.

Germany, although not a tax haven, is considered one of the strongest all-around “traditional-tax” crypto economies that reward long-term crypto holders. German law charges zero tax on crypto holdings of over a year.

Source : Germany leaves the US behind in top crypto economies in Q3: Report