Singapore has ranked first in Multipolitan’s Crypto Friendly Cities Index 2026, ranking ahead of major financial centres including Zurich, Hong Kong, Dubai, London and New York.
The Crypto Friendly Cities Index 2026 evaluates cities based on four key factors that determine how effectively they support cryptocurrency use, investment and business activity: regulatory environment, tax treatment, digital infrastructure and real-world crypto adoption.
According to the report, the rankings aim to identify where cryptocurrency is not only legal but also practical for everyday use, investment and business development.
Singapore claimed first place in the Crypto Friendly Cities Index 2026, reflecting its combination of regulatory clarity, favourable tax treatment and growing digital asset ecosystem.
The city-state ranked ahead of Zurich, Hong Kong and Dubai, all of which also benefited from low-tax environments, stable governance and established cryptocurrency frameworks.
The report notes that tax competitiveness remains one of the strongest differentiators among leading crypto-friendly cities. Singapore, Zurich, Hong Kong and Dubai all combine limited or zero capital gains tax exposure with clear regulatory frameworks.
Singapore’s position is particularly notable given the increasingly stringent regulatory standards introduced by the Monetary Authority of Singapore (MAS). Earlier this year, MAS consulted on the prudential treatment of crypto assets operating on permissionless blockchains and introduced stricter requirements for digital token service providers. Under the updated framework, certain providers must obtain licences or cease operations, with authorities signalling that approvals will be granted only in limited circumstances.
Despite tighter oversight, Singapore continues to demonstrate strong real-world adoption. According to Project Guardian, a MAS-backed initiative, tokenisation trials have already produced live use cases across asset management, wealth management, fixed income and foreign exchange markets, including tokenised funds, bonds, stablecoins and bank liabilities.
Singapore’s crypto payments ecosystem has also shown significant growth, processing nearly $1 billion in merchant payments during the second quarter of 2024.
One of the clearest findings from the Crypto Friendly Cities Index 2026 is the growing dominance of Asia-Pacific cities. Five Asia-Pacific locations secured places in the top 10 rankings, led by Singapore and Hong Kong. Taipei ranked seventh, Seoul eighth and Bangkok tenth, underlining the region’s growing influence in the global digital asset economy.
According to the report, these cities benefit from a combination of strong digital infrastructure, regulatory certainty and increasing levels of crypto adoption among businesses and consumers.
The Crypto Friendly Cities Index 2026 found that cities offering favourable tax treatment continue to dominate the highest positions in the rankings. Singapore ranked first, followed by Zurich in second, Hong Kong in third and Dubai in fourth.
The report argues that low or zero capital gains taxes remain a major competitive advantage for crypto-focused investors and businesses seeking long-term growth opportunities.
While cities such as London, Toronto and New York continue to benefit from deep financial markets, advanced infrastructure and strong institutional participation, higher tax exposure limits their ability to compete with leading low-tax jurisdictions. As a result, all three cities remain in the top 10 but trail the highest-ranked crypto hubs.
Another key finding from the Crypto Friendly Cities Index 2026 is that practical adoption increasingly outweighs supportive rhetoric. Cities such as Singapore and Dubai performed strongly because favourable regulation is supported by visible crypto infrastructure, merchant acceptance and active commercial ecosystems.
The report found that some jurisdictions promoting pro-crypto policies ranked lower because adoption levels and supporting infrastructure have yet to match policy ambitions.
Previously, Singapore has topped the list of globally crypto-obsessed nations. With a composite score of 100, Singapore became the country with the highest adoption of cryptocurrencies worldwide, according to a report by ApeX Protocol. The percentage of residents with digital assets rose from 11 percent to 24.4 percent between 2021 and 2022. With almost 2,000 searches per 100,000 individuals, the nation also has the highest number of online searches pertaining to cryptocurrencies.
The United Arab Emirates ranked just behind Singapore in cryptocurrency engagement, with a composite score of 99.7. Approximately 25.3 percent of the population owns digital assets, the highest recorded rate globally.
