The Three Countries Helping Europe Lay Claim to the Crypto Crown

Andrej Kovacevic HackerNoon profile picture

Andrej Kovacevic

A dedicated writer and digital evangelist.

For most of the past decade, the United States and China took turns laying claim to the title of cryptocurrency capital of the world. But then, regulators in the US began taking more aggressive steps to rein in cryptocurrencies, sending a chill through the market. And around the same time, China all but banned cryptocurrencies within its borders, suddenly outlawing some of the biggest crypto mining operations overnight.

As a result, cryptocurrency projects and their related businesses have begun to spread out across the globe, looking for a place they can call home. And despite its reputation as a regulation-heavy market, Europe is looking like an early contender. In 2021 alone, European nations accounted for 25% of all cryptocurrency activity — worth a total of €870 billion.

All of that action is fast making Europe the preferred destination for crypto projects. But the centers of all of the activity might not be where most people think.

Here’s a look at the three hottest crypto markets in Europe right now.

Switzerland

Long known as a center of the global banking industry, Switzerland spent much of 2021 looking for ways to make itself even more inviting to the crypto industry. That comes as no surprise when you consider the fact that Ethereum was born there. Because of that, Switzerland has grown a reputation as a crypto hub for longer than almost…

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