Switzerland and Singapore Lead the "Global Web3 Index 2024," Says Coincub.com

Switzerland and Singapore are at the forefront of the "Global Web3 Index 2024," according to Coincub.com. The report details significant developments shaping the global Web3 landscape, evaluating countries across six dimensions including regulation, taxation, ecosystem, and talent.

Switzerland has topped the index due to its robust regulatory framework and favorable tax policies. It boasts a high Regulation Score and a thriving crypto ecosystem. Bitcoin is now legal tender in Lugano, and the country operates the densest Bitcoin ATM network globally.

Singapore ranks second, with 24.4% of its population involved in cryptocurrency. The city-state's strong regulatory framework and attractive tax policies make it a key player in the crypto space.

Notable developments in 2024 include the approval of Bitcoin and Ethereum ETFs in the US and the implementation of the MiCA regulation in the EU. Countries like El Salvador and Türkiye are emerging as new players, while the US faces regulatory challenges affecting its ranking.

Germany has seen a decline due to economic struggles and job losses in the crypto sector, despite its strong regulatory environment. The report suggests that regulatory clarity and technological innovation are vital for sustainable growth in the Web3 landscape.