As the blockchain and cryptocurrency industries scale globally, nations are no longer adopting a wait-and-see attitude; they’re actively competing for a slice of the pie. Governments are recognizing that Web3 is a revolutionary technology with wide-reaching implications for economies, governance and digital infrastructure, and countries are vying to attract the top talent to their shores.
What’s emerging is a new network of crypto tech hubs: jurisdictions building regulatory clarity and fostering innovation to attract the most ambitious developers and companies in the space. The United Arab Emirates (UAE), Hong Kong and Singapore are among the best known, but there are many regions lining up to shape the next phase of decentralized innovation.
But there’s one thing that most crypto hubs have in common. See if you can spot what it is, but we’ll let you know at the end.
UAE crypto hub: Regulatory clarity and international appeal
The UAE, led by Dubai and Abu Dhabi, has become a key player in the global crypto landscape. The former emirate didn’t become crypto-friendly overnight, but rolled out a series of regulatory milestones between 2021 and 2022 that transformed it into a welcoming environment for crypto companies.
Consequently, thanks to agencies such as Dubai’s Virtual Assets Regulatory Authority (VARA) and the Abu Dhabi Global Market (ADGM, introduced even earlier in 2018), the country offers structured licensing for exchanges, custodians and blockchain companies.
Long-time home to Changpeng “CZ” Zhao and other personalities such as Ola Doudin and Zach Whitkoff, its business-friendly environment and international connectivity have drawn major crypto exchanges and ecosystem builders. Rachel Pether, regional head at global digital asset investment manager 3iQ, says:
“Having been a resident of Abu Dhabi for over 17 years, I’ve seen first-hand how it has transformed itself into a world-class crypto hub. It’s been successful bottom-up with crypto firms setting up in Abu Dhabi and a high number of professional investors leading to high crypto adoption per capita.”
The UAE is pursuing a broad strategy that bridges capital markets, DeFi, NFTs and tokenization.
Statistics: Crypto ownership rates among UAE residents stand at 25.3%, one of the highest globally. The crypto market revenue in the UAE is estimated at $395.9 million in 2025, growing at a forecast compound annual growth rate (CAGR) of 4.6% into 2026.
In 2024, over $30 billion flowed into crypto investments in the UAE.
The UAE scores high on the global Crypto Adoption Index (50.2/60), with top marks in tax-friendliness (10/10) and innovation.
Crypto taxes: Zero tax on trading, gains, staking or mining rewards.
Home to: Changpeng Zhao, co-founder of Binance; Ola Doudin, CEO of BitOasis; Nick Philpott, co-founder of Zodia Markets; Zach Whitkoff, co-founder of World Liberty Financial.
Singapore crypto hub: A measured, institutional powerhouse
Singapore continues to offer one of the world’s most thoughtful approaches to digital asset regulation. The Monetary Authority of Singapore (MAS) has implemented a framework that distinguishes between various token types, providing licensing for payment token services and setting clear guardrails for custody and compliance.
83% of Fortune 500 blockchain pilots run under MAS-approved frameworks, and BlackRock chose Singapore as its Asian tokenization hub. SWIFT is testing CBDC bridges with Singaporean banks, and Token2049 holds its main conference here every year. Famous residents include Crypto.com founders Gary Or, Bobby Bao and Rafael Melo.
“Singapore has achieved what no other crypto hub has: institutional trust at scale. This isn’t just about being crypto-friendly, it’s about building a credible, predictable environment where global institutions feel safe to innovate and invest. This level of trust doesn’t happen by accident — it’s engineered,” says Sky Wee, managing partner at Sky Ventures.
But MAS has taken a more cautious stance on retail crypto speculation in recent years following the collapse of Three Arrows Capital and Terraform Labs.
New rules came into force at the end of June requiring entities offering digital token services to overseas clients to obtain a Digital Token Service Provider license or face a possible term of imprisonment, with Bitget, Bybit and Tokenize forced out of the city state. The MAS has warned licenses will only be issued in “extremely limited circumstances.”
The rules aim to tackle regulatory arbitrage. Still, Singapore’s infrastructure and fintech-savvy culture make it a model for jurisdictions seeking to balance innovation with systemic stability; the city-state remains a magnet for institutional-grade platforms, tokenization pilots and blockchain R&D.
Statistics: One in four adults owns crypto, many using it for payments. Singapore ranks No. 1 worldwide on several adoption indexes (Henley Crypto Adoption Index score is 45.7/60).
Market revenue is projected at about $392 million in 2025, growing 4.2 % annually into 2026.
Around 4.19 million users by 2026, reaching 68% crypto penetration.
Crypto taxes: 0% — no tax on personal crypto gains, up to 22% if crypto trading qualifies as “business activity.”
Home to: Crypto.com founders Kris Marszalek, Gary Or, Bobby Bao and Rafael Melo; Richard Teng, CEO of Binance Asia; Sky Wee, managing partner at Sky Ventures.
Switzerland crypto hub: The original crypto haven
Switzerland was an early frontrunner as a crypto hub, particularly the region of Zug, known as Crypto Valley. Zug became a first-mover in crypto due to its progressive regulatory stance and early embrace of blockchain. In 2016, it began accepting Bitcoin for public services, signaling openness to innovation. The Swiss Financial Market Supervisory Authority (FINMA) provided early clarity on ICOs and asset categorization.
Ethereum, Tezos, Cardano and other projects established foundations in the country, and it was the home for crypto titans such as Mihai Alisie, co-founder of Ethereum. As Johann Schneider-Ammann, former Swiss economics minister, declares, “We want to be the crypto nation.”
Zug’s stability, legal clarity and tech-forward mindset made it a magnet for pioneers, setting the global standard for how local governance can catalyze a decentralized economy.
Today, Switzerland is home to a growing number of regulated exchanges, security token platforms and crypto banks. The country’s reputation for neutrality, privacy and legal precision continues to attract both startups and multinational players focused on financial infrastructure, asset management and secure digital identities.
Statistics: Crypto market revenue is projected at $446.1 million in 2025, with a CAGR of 4.6% into 2026, and an average per-user revenue of $115.90.
The user base is estimated at 4.03 million by 2026, with penetration rising from 43% in 2025 to 45%.
Zug hosted 512 crypto firms in 2024, including major projects as Ethereum, Solana and Cardano, totaling 1,290 companies across Switzerland and Liechtenstein.
Crypto taxes: Capital gains are 0% (exempt for private investors) unless classified as a professional trader. Wealth tax is 0.3%-1% on global assets, including cryptocurrency. However, crypto income from mining, staking or other active activities is taxable as ordinary income.
Home to: Niklas Nikolajsen, founder of Bitcoin Suisse (Zug), and Andrey Kurennykh, co-founder and CEO of Tangem.
First Bitcoin payment at a supermarket in Switzerland – Spar in Zug, impressive implementation by @DFX_swiss. Just scan a static QR code, send sats, immediate and easy registration by the cashier. If enough people use it, it may be rolled out in the whole country. pic.twitter.com/v9N0ZHoDGn
— Rahim Taghizadegan (scholarium.at) (@scholarium_at) April 15, 2025
Gibraltar crypto hub: Small territory, big vision
Gibraltar has proven that size is no barrier to influence in the blockchain sector. As early as 2018, the Gibraltar Financial Services Commission (GFSC) introduced a regulatory framework for distributed ledger technology providers, making it one of the first jurisdictions in the world to do so.
Gibraltar’s regulatory framework, introduced in 2018, mandates that crypto firms be licensed as distributed ledger technology (DLT) providers, requiring robust risk management, AML controls and capital adequacy, which offers legal certainty while avoiding overly prescriptive rules. Albert Isola, a key architect of Gibraltar’s DLT framework, lives on the “Rock” and is now minister for digital and financial services.
Combined with its 10% corporate tax rate and no capital gains tax, Gibraltar provides a cost-effective and compliant environment for crypto businesses to operate and scale. The “Rock” now hosts a range of exchanges, fintech companies and blockchain service providers… and its legal system, rooted in English common law, adds an extra layer of predictability for global companies.
“Gibraltar pioneered the world’s first dedicated regulatory framework for DLT providers, underpinned by an experienced regulator and a proactive government deeply committed to innovation,” says Targ Patience, chair of the Gibraltar Association for New Technologies (GANT).
“We’re now breaking new ground in advances for tokenization, DApps and DAOs. Coupled with a vibrant crypto community and zero capital gains tax, Gibraltar offers an unmatched crypto ecosystem.”
Stats: Ranks 15th globally, scoring 87.4/100 in the Global Intelligence Unit’s Cryptocurrency Report.
Crypto taxes: 0% capital gains tax and no VAT/wealth/inheritance tax on crypto. Income tax applies to trading or mining as a business (up to 39%). Corporate tax is 15% on Gibraltar-sourced profits.
Home to: Albert Isola, minister for Digital and Financial Services.
Malta crypto hub: The blockchain island rebounds
Once hailed as the “Blockchain Island,” Malta was among the first countries to propose a comprehensive legal framework for blockchain and digital assets in February 2018, when its government unveiled three landmark bills: the Malta Digital Innovation Authority Bill (MDIA), the Technology Arrangements and Services Bill (TAS/ITAS) and the Virtual Financial Assets Bill (VFA).
This laid the groundwork for what would become the world’s first holistic blockchain legal system and provided regulatory certainty while encouraging innovation. John McAfee was a regular visitor to the island, and Chun Wang, co‑founder of F2Pool (one of the world’s first and largest Bitcoin mining pools), became a Maltese citizen in 2023.
Jean-Michel Azzorpadi, Maltese blockchain evangelist and founder of Kralanx Cyber Security, comments, “Malta is the only jurisdiction in the EU with a pre-2025 regulatory framework more arduous than MiCA, so the country has been well prepared for some time. Maltese banks are still asleep at the wheel, but EMIs (so-called Electronic Money Initiatives) have filled the gap, making the overall blockchain ecosystem quite strong.”
Malta’s status as a European Union member gives it access to Europe’s single market while its flexible approach continues to appeal to mid-sized exchanges and emerging projects seeking a home with credible oversight and European integration.
Statistics: Malta ranks sixth globally in the 2024 Henley Crypto Adoption Index, with high regulatory support and strong business presence. Crypto market revenue in Malta is projected to reach about $591,600 in 2025, with a CAGR of roughly 6.4 % into 2026; average revenue per user is $12.80.
Crypto taxes: There is no capital gains tax on crypto that is held long-term, while occasional trading (profits on casual trades) are tax-exempt. Frequent/professional trading and income from mining/staking/trading is treated as standard business income at 15%-35%.
Home to: Chun Wang, co-founder of F2Pool, and Joseph Muscat, former prime minister who spearheaded Malta’s 2017-2018 crypto legislation.
Sri Lanka crypto hub: Punching above its weight
Sri Lanka offers the ideal blend of strategic location, technical talent and economic efficiency, making it the perfect base for an emerging crypto hub. Positioned at the crossroads of Asia and the Middle East, the island nation provides convenient access to major global markets.
More importantly, its capital, Colombo, has rapidly emerged as a hub for innovation with a highly educated, English-speaking workforce and a thriving community of software engineers, blockchain developers and AI specialists.
Rumors that Binance is to set up in the country have also been echoing around Telegram messaging groups. The country’s five-year economic crisis from 2019 to 2024 engendered interest in crypto as an alternative hedge against inflation.
Gareth Brawn is the founder and CEO of The Coin With No Name, a Solana-based project powering an AI bot development platform that lets consumers build, deploy and monetize AI bots.
“Sri Lanka brings a unique energy to entrepreneurship; it’s resilient, forward-looking and untapped. The local startup ecosystem is rapidly maturing, supported by government initiatives and growing foreign investment. By choosing Sri Lanka as our headquarters, we have gained operational advantages but also contribute to nurturing a rising tech economy,” he says.
Statistics: Digital asset revenue is projected at $62.6 million in 2025, with a CAGR of 8.5% into 2026, creating an average revenue per user of approximately $59.1.
By 2026, about 1.16 million users (4.6% of the population) are expected to hold crypto.
Crypto taxes: No formal crypto regulation, but a 10% capital gains tax for crypto. The central bank advises the public of high risks and does not recognize crypto as legal tender, although there are moves to create a more friendly crypto environment.
Home to: No widely recognized global crypto personalities.
Hong Kong crypto hub: Back in the game
Hong Kong is reemerging as a major force in crypto after several years of regulatory uncertainty. Hong Kong’s government released its first virtual asset policy statement in 2018, committing to introduce licensing for digital asset trading platforms under the so-called principle of “same activity, same risk, same regulation.”
With a licensing framework now in place for digital asset exchanges and custodians, the city is attracting institutional interest and rebuilding its status as a digital finance hub.
Kumardev Chatterjee, founder of the Global Crypto Forum, highlights:
“Web3 activity in Hong Kong has been growing steadily since 2024, with major steps such as the launch of BTC and ETH ETFs, hosting of important conferences such as Bitcoin Asia and Consensus HK. It also has a welcoming regulatory environment, from leading Hong Kong Legislative Council members such as Johnny Ng and Government members such as Joseph H. L. Chan, Under Secretary for Financial Services and the Treasury.”
Authorities are actively encouraging tokenization pilots, including green bond issuances and infrastructure for central bank digital currencies. Hong Kong’s legal sophistication and proximity to China make it a strategic base for firms looking to navigate the Asian market while remaining compliant under an increasingly mature framework.
Many in the industry hope that China sees Hong Kong as a sandbox to experiment with crypto, before loosening up restrictions on the mainland — though that’s yet to occur.
Statistics: Digital assets market revenue is forecast at $200.7 million in 2025, growing at 4.0% CAGR to $208.7 million in 2026. Crypto user base expected to reach around 694,000 by 2026 (8.9% penetration in 2025, 9.3 % in 2026)
Crypto taxes: 0% capital gains tax on private, occasional crypto trading; salaries tax applies to crypto paid as income. Hedge funds and family offices’ gains from crypto may be exempt under proposed new regulations.
Home to: Yat Siu, Co-Founder, Animoca Brands, Justin Sun, Founder, Tron
The one thing emerging crypto hubs have?
We’re sure you’ve already noticed but the one thing the above emerging crypto hubs have are low or no capital gains taxes on crypto. It seems if you want to attract the best crypto talent from around the world, favorable regulations that balance innovation and consumer protections are good… but 0% capital gains taxes on crypto profits are even better. See also Portugal, which Magazine covered as a crypto hub attracting international talent back in May.
United States crypto hubs: New York, San Fran, Austin
The United States remains a powerhouse of crypto development and capital, but policy fragmentation continues to slow its momentum. Agencies such as the SEC and CFTC often clash over jurisdiction, leaving companies in a legal gray area that can stifle growth or push operations overseas.
Despite this, cities like San Francisco, Austin, and New York remain innovation hotspots. Startups continue to raise capital, build protocols, and push the boundaries of DeFi, NFTs, and layer-2 scaling.
Global crypto leaders such as Vitalik Buterin and CZ are regular visitors (for somewhat different reasons), and it is home to Michael Saylor, Marc Andreseen, Brian Armstrong and many others.
Jonny Fry, CEO of TeamBlockchain, observes, “New York will rise from current relative obscurity to one of the most important now the GENIUS act has passed [the Senate].”
“This provides clear regulatory guidance and so encourages a huge surge in stablecoins being launched and does for the US dollar what the Petro dollar did and the euro did previously — extend the life span of the US dollar as the world’s reserve currency.”
With momentum building around bipartisan legislation in Congress, there is hope that clearer rules will soon support the country’s unrivaled technical and entrepreneurial strength.
Statistics: Crypto market revenue in the US is projected at $16.1 billion in 2025 (3.6% CAGR into 2026); overall digital asset market revenue is $18.6 billion — the highest globally. User base is expected to reach 166.7 million by 2026, with penetration rising from 46.4% (2025) to 47.8% (2026).
Crypto taxes: The IRS treats crypto as property, meaning each sale, trade or purchase with crypto triggers a capital gains event. Crypto earnings (mining, staking, payments) are taxed as ordinary income.
Home to: Anatoly Yakovenko, Co-Founder, Solana Labs, Hayden Adams, Founder, Uniswap, Michael Saylor, Co-Founder, Strategy, Marc Andreseen, Co-Founder, Andreessen Horowitz, Brian Armstrong, CEO, Coinbase.
European crypto hubs
The European Union is taking a unified approach to crypto regulation through the Markets in Crypto-Assets (MiCA) framework. Once fully implemented, it will create consistent standards for exchanges, stablecoins and wallet providers across member states. Portugal is one country that is especially crypto-friendly.
Gavin Wood, Stani Kulechov, and Julien Bouteloup all live on the continent, including Dr. Philipp Sandner, Germany’s leading blockchain academic, shaping EU crypto policy.
European cities are also growing as cultural and technical centers for blockchain. Filippo Chisari, General Partner at AgileGTM Blockchain Fund, remarks, “Lisbon is one of the world’s major hubs today more than ever, not because of the friendly taxation on crypto capital gains as many would think, but because it is simply much more cost-effective to be a bootstrapped entrepreneur in Lisbon than it is in London, NYC or any other major hub, while still being extremely well connected and accessible.”
Berlin’s deep open-source roots make it a favorite among DeFi builders and it played a foundational role in Ethereum’s development. Paris is investing heavily in fintech and startup infrastructure. While bureaucracy can be a hurdle, Europe’s cohesive policy direction gives it an advantage as regulatory clarity becomes a competitive edge.
Statistics:MiCA (Markets in Crypto‑Assets) was fully implemented from December 2024 across EU members. The digital assets market in Europe is estimated at $30.1 billion in 2025, with 30.4 % CAGR into 2026, reaching $34.7 billion. There are 268 million users (30.4 % penetration in 2025, rising to 31.6 % in 2026). Germany leads adoption, reflecting strong regulatory frameworks.
Crypto taxes: These vary from country to country, ranging from lower taxes in Germany and Portugal to higher regimes in Spain, Holland and Belgium.
Home to: Gavin Wood, Co-Founder, Ethereum and founder of Polkadot, Stani Kulechov, Finnish creator of Aave; Julien Bouteloup, French DeFi innovator tied to Curve and Yearn, Dr. Philipp Sandner, Germany’s leading blockchain academic shaping EU crypto policy.
Latin America and African crypto hubs
In Latin America and Africa, blockchain adoption is being shaped less by investment cycles and more by practical utility. Citizens in countries with unstable currencies or limited financial access are turning to stablecoins, peer-to-peer networks, and blockchain-based savings platforms to manage daily economic life.
Brazil has emerged as a regulatory leader in Latin America, supporting digital real pilots and exploring public sector blockchain applications. El Salvador has, of course, embraced Bitcoin like nowhere else. In Africa, Nigeria and Kenya are pioneering the use of mobile wallets, crypto remittances, and micro-lending protocols.
Joshua Johnson, co-founder and CEO of LiquidHectare, highlights a novel example of blockchain governance emerging from Africa:
“The Zanzibar sovereign zone is creating the world’s first onchain government, similar to what the UAE is pioneering with their land department, but at the scale of an entire governmental system and positions Zanzibar as the ‘Singapore of Africa’ through blockchain governance.”
While infrastructure and policy frameworks are still evolving, the innovation born out of necessity in these regions reflects crypto’s most grounded and impactful potential.
Statistics: Crypto ownership in Latin America stands at 57.7 million users (12.1% penetration) as of early 2025. South America alone is expected to reach $5.8 billion in crypto revenues in 2025, rising to $6.5 billion by 2026.
Crypto taxes: Varies by country, but it is especially crypto-friendly in El Salvador and Panama.
Home to: Salvadoran President Nayib Bukele; Wences Casares, originally from Argentina, founder of Xapo Bank; Ricardo Salinas, a Mexican billionaire who holds 70% of his personal investment portfolio in Bitcoin.
A multipolar future for crypto
The rise of crypto hubs across the globe underscores a new reality: The future of blockchain innovation will not be centered in one place, but distributed across jurisdictions that offer distinct advantages.
The UAE continues to stand out for its ambition and execution. Singapore, Switzerland, Gibraltar and Malta offer dependable, innovation-friendly regulatory environments. Hong Kong and key EU cities are advancing frameworks that combine oversight with flexibility. Meanwhile, grassroots adoption in Latin America and Africa is pushing the technology into real-world utility.
Crypto is inherently decentralized, and now its geography is reflecting that principle. Jurisdictions that prioritize clarity, agility and openness will lead the way — not because they all follow the same blueprint, but because they empower different parts of a borderless, programmable economy to thrive on their own terms.
Monty Munford
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