US came first in the list of the most favorable countries for ICOs, according to the report from analysts with the Crypto Finance Conference. Switzerland and Singapore also made it to the top 3.
16 July, AtoZ Markets – Switzerland, Singapore, and the US have appeared as top three countries with “most favorable” environment for the Initial Coin Offerings (ICOs) in a recent report from the analyst with the Crypto Finance Conference.
US Ranks First in the List of Most Favorable Countries for ICOs
The researchers have compiled the study that is based on publicly available data of the top100 ICOs by country. The analysts looked into the data related to funds raised and ranked them by the number of projects that have been launched in each country.
The report notes that the US has the most favorable environment for ICOs. The country has a total of 30 companies that have been launched in this nascent market. Switzerland came second with 15 ICO project in its portfolio, and Singapore has won the third place with 11 ICOs launched in the country.
The ICO ranking report also includes the UK, Russia, and Estonia as some of the most promising nations for crypto project funding.
Blockchain Developments in Malta and Bermuda
In the meantime, some of the Blockchain and cryptocurrency friendly countries, such as Malta and Bermuda, continue to develop towards becoming the global crypto hub. Earlier this month, Bermudan government has made a public announcement. The country officials have stated that they are planning to change the Banking Act. They are looking into establishing a new class of bank to render services to local Blockchain and Fintech companies.
According to online reports, local banks have declined to provide banking services to this innovative type of companies. Reportedly, the financial institutions are worried about potential risks and regulatory issues. In relation to this issue, the government of Bermuda has decided to develop an update to the Banking Act.
Last week, the second largest cryptocurrency exchange in the world, Binance, is taking steps towards advancing the Blockchain environment on the island of Malta. This time, the exchange is working on the establishment of the Blockchain-based bank with tokenized ownership in Malta.
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