California has emerged as the most willing jurisdiction for cryptocurrency in the USA; Thanks to the proliferation of crypto ATMs and a growing interest in digital assets among the state's residents, according to new industry research from review site CryptoHead.
With a score of 5.72 out of 10, California edged out New Jersey (5.44), Texas (5.28), Florida (5.03) and New York (4, 29) in the cryptocurrency readiness indicator. The state's total score was also 2.54 points higher than the national average.
According to Coin Telegraph, the results were calculated using metrics such as Google cryptocurrency-related searches, the presence of Bitcoin (BTC) and other cryptocurrencies, and the number of blockchain-related bills passed. Passed in every state.
California ranked first in Google cryptocurrency-related searches per 100,000 and in the number of crypto ATMs. These positive factors offset the lack of crypto-focused legislation in the state.
For comparison, New York passed 8 bills focused on cryptocurrency but ranked 33rd in terms of crypto ATM installations.
New Jersey has the highest number of crypto ATM installations per 10,000 square miles and has the third-highest number of searches per 100,000 people. Texas and Florida also scored well for ATMs and comprehensive searches.
Despite regulatory uncertainty and a looming infrastructure bill that could affect key sectors of the blockchain economy, the United States remains a global leader in adopting Cryptocurrencies.
In 2020, the volume of Bitcoin trading in the United States exceeded those in Europe, Nigeria and China combined. In the same year, Americans booked $4.1 billion in profits from their cryptocurrency deals, far more than any other country. The US also leads the world in Bitcoin ATMs, accounting for 86.4% of all installs, according to industry sources.
