While some countries decide to ban cryptocurrencies and ICOs, other welcome them with open arms.
Below we will discover top 9 countries with a friendly attitude towards bitcoin, and blockchain technology overall.
Switzerland is known as a crypto-friendly nation due to their regulations and tax-free approach. The country has a virtual coins hub called “crypto valley” located in the city of Zug. The country is also a leader in innovative DLT applications, from blockchain for education, to healthcare and real estate.
Malta is a small country in Europe which is primarily known as a very welcoming country for the gambling businesss. In 2018, the Malta Digital Innovation Authority has been formed, in order to encourage cryptocurrency and blockchain businesses to come to Malta. Huge digital coins exchanges such as Okex and Binanc are moving their businesses to Malta.
Slovenia, which soon may carry the title of “Europe’s Silicon Valley,” has the strongest civil support of Bitcoin in the world. Slovenia has plans for blockchain in the Development Strategy for the Information Society until 2020, reputable business communities with more than 300 companies that promote decentralized technologies, 9 Bitcoin ATMs and more.
In 2018, the Gibraltar Financial Services Commission released new regulations for crypto exchanges, in an effort to make the country secure and welcoming for crypto business. Gibraltar has no tax on capital gains or added value.
Despite the fact that Bitcoin was invented in this very country, there were some difficulties regarding its legalisation at the beginning. With the support of the Government, cryptocurrency operations are thriving in Japan. Even salaries are starting to be paid partly in Bitcoin.
Singapore has traditionally been a friendly country regarding capital regulations. Bitcoin transactions are legal in this country, under some guidelines of Inland Revenue Authority of Singapore.
Estonia, a country where Skype was originally made, has always been a tech-friendly country so it is no wonder that they welcomed cryptocurrencies so quickly. Bitcoin has an all-encompassing implementation in this country, starting from banking services to healthcare. In this country, there is also a significant number of Bitcoin ATMs.
Australia has a very friendly stance towards Bitcoin and several other cryptocurrencies. Some of the most popular and secured cryptocurrency exhcanges like Coinspot, Cryptopia and BTCMarkets are based in this territory.
9. South Korea
Known for its huge contribution to the world of smartphones that we are currently living, South Korea allows an extensive usage of Bitcoin. The cryptocurrency is used both as a medium of transaction and investment.