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Digital asset investors are increasingly seeking global mobility to match their borderless wealth. Part of the Crypto Wealth Report 2026, the Henley Crypto Adoption Index benchmarks countries offering residence and citizenship pathways, assessing how effectively they embrace and regulate crypto and blockchain across 900+ data points.
The architecture of global finance has traditionally assumed that capital is tied to geography. Digital assets challenge that assumption.
Henley & Partners assists high-net-worth investors in navigating this new landscape. The Henley Crypto Adoption Index 2026 evaluates the world’s leading residence and citizenship programs in countries that are actively developing their blockchain and digital asset ecosystems. This enables clients to construct globally diversified domicile portfolios that enhance tax efficiency, safeguard wealth, and expand mobility in a world where location is increasingly a matter of choice.
The 36 countries included in the index were selected through a detailed assessment of regulatory, technological, economic, and social factors relevant to both blockchain development and residence and citizenship planning. Each offers formal residence or citizenship pathways for investors and demonstrates meaningful progress in creating an environment that supports the responsible adoption of digital assets.
Based on more than 900 data points organized across 6 parameters, 15 sub-parameters, and 26 indicators, the index provides a comprehensive, comparative overview of how these countries are engaging with this transformative technology.
Key Parameters
The six key parameters are Public Adoption, Infrastructure Adoption, Innovation and Technology, Regulatory Environment, Economic Factors, and Tax-Friendliness.
Public Adoption
Public Adoption measures the level of awareness, interest, and engagement with cryptocurrencies in the general population. It includes indicators such as a binary adoption presence score, a continuous benchmarked score for the absolute number of crypto users, and Google search interest related to cryptocurrencies. Higher public adoption indicates a more crypto-friendly environment.
Key sources: Google Trends, TripleA
Infrastructure Adoption
Infrastructure Adoption assesses the technological foundations for cryptocurrency transactions and exchanges. This parameter includes the number of crypto ATMs, integration with local banks, the presence of digital asset exchanges, and the number of businesses accepting crypto as payment. A well-developed infrastructure supports smoother crypto adoption.
Key sources: Bitcoin.com Maps, Blockspot.io, Coin ATM Radar, CoinCodex, Coincub
Innovation and Technology
Innovation and Technology gauges a country’s commitment to fostering advancement in the crypto and digital asset space. This parameter considers active government-backed blockchain and cryptocurrency initiatives, including central bank digital currency (CBDC) development, as well as cryptocurrency-related start-ups.
Key sources: Crunchbase, monetary authorities, national central banks
Regulatory Environment
Regulatory Environment evaluates a country’s legal framework for cryptocurrencies and blockchain technology. Sub-parameters include the adoption of Initial Coin Offerings (ICOs) regulations, the legal status of cryptocurrency, the clarity and robustness of regulations, and the availability of regulatory sandboxes.
Key sources: Central banks, Global Legal Insights – Blockchain & Cryptocurrency Laws and Regulations, national financial regulators, PwC Global Crypto Regulation Report 2026
Economic Factors
Economic Factors considers the stability and economic conditions of a country by evaluating the level of financial inclusion and smartphone and internet penetration. Broadband speed was assessed based on Henley & Partners’ analysis of Speedtest Global Index™ data from 23 June 2026.
Key sources: SpeedTest Global Index™ data from 23 June 2026, World Bank
Tax-Friendliness
Tax-Friendliness evaluates the tax burden and tax-policy clarity applicable to private cryptocurrency investment. It incorporates the tax rate on crypto investment gains, the maximum personal income tax rate, and the extent to which cryptocurrency tax treatment is clearly established under applicable law. Countries with lower tax burdens and clearer tax treatment score higher.
Key sources: EY Worldwide Personal Tax and Immigration Guide, Global Legal Insights, PwC Worldwide Tax Summaries
Please refer to the data sources section below for links.
Gathering and Computing the Data
Data for 36 countries that host residence or citizenship programs was collected from July to August 2026, using the latest available public information. The list included previously assessed countries and new additions reflecting current market trends.
Numerical variables were normalized using one of three approaches, depending on the distribution and interpretability of the indicator:
Min–max normalization (0–1 scale): For most numerical indicators, the minimum value was transformed into a 0, the maximum value into a 1, and every other value into a decimal between 0 and 1:
x = (x – Min(x))/(Max(x) – Min(x))
Categorical scoring: Categorical variables were divided into distinct categories based on relevant criteria. Each category was assigned a numerical value in the range 0–1 to represent its relative importance.
Global benchmark scaling (introduced in 2025): To minimize distortions caused by extreme outliers, selected indicators were standardized against global or dataset averages. In this approach, the global average is set to 0.5, while a country is assigned the maximum score of 1.0 if its value is at least twice the global average:
Next, indicators were grouped into thematic sub-parameters and combined using the weighting structure defined for each sub-parameter. Unless otherwise specified, indicators and sub-parameters are equally weighted. Then, the six key parameter scores (each maximum 10) were derived by summing equally weighted sub-parameters.
The Total Country Score (maximum 60) is the sum of the scores of the six parameters: Public Adoption, Infrastructure Adoption, Innovation and Technology, Regulatory Environment, Economic Factors, and Tax-Friendliness.
Methodology Refinements in 2026
This year we have made several refinements to our methodology.
Crypto Users Estimation
To address gaps in data availability, we introduced a second data source to address data gaps for countries without reported figures (namely, Antigua and Barbuda, Grenada, Monaco, and St. Kitts and Nevis).
Using a secondary source improves coverage, but it also introduces a source-comparability break for the affected jurisdictions. Their year-on-year movements should therefore be interpreted with caution, as differences may partly reflect source coverage and estimation methodology rather than purely indicating changes in underlying adoption.
Merchant Adoption Data Source
For Infrastructure Adoption, a new source was used for assessing the number of businesses accepting cryptocurrency, namely, BTCMap.org. BTC Map provides an open-source merchant database with clearer information on listing verification and update history. Because BTC Map differs in coverage and verification methodology from the previous source, year-on-year changes in merchant counts may partly reflect the source transition rather than purely indicating changes in actual merchant adoption.
CBDC Classification
The CBDC Development metric was moved from Regulatory Environment to Innovation and Technology. CBDC development is treated as evidence of public-sector digital-finance innovation rather than as an indicator of the regulatory environment for private crypto assets. CBDC activity can contribute positively where it exists, but jurisdictions without an active CBDC are not penalized for its absence, as CBDC development represents one of many possible pathways for public-sector digital asset innovation. The assessment reflects the highest currently active stage. Completed, suspended, or discontinued initiatives are not treated as active.
Tax-Friendliness
The tax methodology was refined to focus more directly on the tax burden faced by a private crypto investor. Is there any governmental legislation on cryptocurrency taxation? was reframed as Cryptocurrency Tax Treatment, recognizing both explicit crypto-specific rules and cases where general tax law clearly determines the treatment of crypto gains. Capital Gains Taxes (max) was reframed as Tax on Crypto Investment Gains (max), so the assessment captures the applicable tax on private crypto investment gains regardless of whether a country formally classifies those gains as capital gains, ordinary income, or another category.
Representative Crypto Investment Gains Rate and Weighting
Where a country has separate short- and long-term rates for crypto investment gains, the current methodology first derives a single representative crypto-investment-gains rate by averaging the two. Where a country has one applicable rate, that rate is used directly. The representative rate is then normalized across the full country sample. The Tax-Friendliness score is calculated using 50% Tax on Crypto Investment Gains, 30% Income Tax, and 20% Cryptocurrency Tax Treatment, giving greater weight to the actual tax burden while retaining clarity of tax treatment as a distinct component.
Data Sources
Public Adoption
The Public Adoption score is calculated as the sum of the following indicators, equally weighted:
Infrastructure Adoption
The Infrastructure Adoption score is calculated as the sum of the following indicators, equally weighted:
Innovation and Technology
The Innovation and Technology score is calculated as the sum of the following indicators, equally weighted:
Regulatory Environment
The Regulatory Environment score is calculated as the sum of the following indicators, equally weighted:
Economic Factors
The Economic Factors score is calculated as the sum of the following indicators, equally weighted:
Tax-Friendliness
The Tax-Friendliness score is calculated as a weighted combination of the following indicators:
Sources: EY Worldwide Personal Tax and Immigration Guide,Global Legal Insights, PwC Worldwide Tax Summaries
As the global leader in residence and citizenship planning, Henley & Partners is best placed to advise you and your family. Contact us for a free consultation.
