UAE Has the World’s Highest Rates of Crypto Ownership
The UAE Takes the Top Spot
The United Arab Emirates (UAE) boasts the highest rates of crypto ownership globally. The country’s government is considered to be very crypto-friendly, as described in Henley & Partners’ Crypto Wealth Report 2023:
In the UAE, the Financial Services Regulatory Authority (FSRA-ADGM) was the first to provide rules and regulations regarding cryptocurrency purchasing and selling.
The Emirates are generally very open to new technologies and have proposed zero taxes for crypto owners and businesses.
This graphic, via Visual Capitalist’s Marcus Lu, ranks the top 10 countries by their rate of cryptocurrency ownership, which is the percentage of the population that owns crypto.
Vietnam leads Southeast Asia
According to the Crypto Council for Innovation, cryptocurrency holdings in Vietnam are also untaxed, making them an attractive asset.
Another reason for Vietnam’s high rates of ownership could be its large unbanked population (people without access to financial services).
Cryptocurrencies may provide an alternative means of accessing these services without relying on traditional banks.
Data and Highlights
The table below lists the rates of crypto ownership in the top 10 countries, as well as the number of people this amounts to.
Note that if we were to rank countries based on their actual number of crypto owners, India would rank first at 93 million people, China would rank second at 59 million people, and the U.S. would rank third at 52 million people.
