Germany Surges Ahead as Crypto Adoption Blooms, Leaving UK Behind
Crypto adoption is thriving in Germany, particularly among younger investors, while the UK lags behind due to lagging regulations, according to CoinShares researcher Luke Nolan.
Nolan notes that Germany's cryptocurrency adoption is showing 'very good progress' through family offices, wealth managers, individual advisors, and younger generations looking to invest inherited wealth in digital assets.
The country has 89 licensed crypto-asset service providers, accounting for 25.5% of companies in the European Securities and Markets Authority's (ESMA) Markets in Crypto Assets (MiCA) register.
In contrast, the UK is 'still very much behind,' Nolan says, citing the country's Financial Conduct Authority's (FCA) slow pace on regulatory approvals for crypto-related products.