EUBOF: A Study on Crypto Assets in 29 European Countries

The recent report of the European Blockchain Observatory and Forum analyses market maturity for crypto assets in 29 European countries.

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The European Blockchain Observatory and Forum published an extensive study on the current state of the European blockchain ecosystem, coordinated by the Institute for the Future (IFF) of the University of Nicosia.

The study analyses the current situation for both adoption and regulatory treatment of crypto assets in the 27 EU member states, the UK, and Switzerland. The report includes a country-by-country prospectus while assessing each country’s position on the maturity of its regulatory framework and business ecosystem.

The findings of the study show that, in terms of the level of maturity of the business ecosystem, Cyprus is one of the leading countries in Europe, has put in place since 2019 a national strategy to support and promote blockchain, while the effort to develop legislation on crypto-assets is ongoing.

The report concludes that Cyprus is an example worth considering in terms of the opportunities it provides in the field of education and makes special reference to the University of Nicosia, which leads the world, offering not only the first postgraduate program in the field (MSc in Blockchain & Digital Currency) but also a free introductory course (MOOC) in digital currencies, in which more than 40,000 students from 100 countries have participated so far. 

According to Professor Giorgos Yallis, Executive Director of the Institute for the Future:

“We are proud to have worked with the European Commission and the other partners in the EU Blockchain Observatory to carry out this study. As Europe prepares to harmonize the regulatory framework of EU Member States, with the Markets in Crypto Assets (MiCA) proposal published in September, it is important to understand where each country is today in Europe. We have interviewed dozens of experts in all European countries and collected data on regulatory initiatives, the state of the business ecosystem, educational initiatives, and user communities in each country. We believe that the result is the most comprehensive and up-to-date analysis of the state of the European blockchain ecosystem to date.”

See the full report here.


The European Blockchain Observatory and Forum (EUBOF) aims to highlight the main developments in blockchain technology, as well as to accelerate the development of the blockchain ecosystem within the European Union. The center’s activities aim to help Europe seize the new opportunities offered by blockchain, create expertise, and play a leading role in the sector.

The University of Nicosia (UNIQ) holds the role of the academic partner of the consortium, while the other partners of the consortium are INTRASOFT and the National Centre for Research & Technological Development (ECETA). The consortium’s efforts are supported by subcontractors Bitfoury Group, OpenForum Europe AISBL, White Research, and PLANET S.A.

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