Top 10 Most Blockchain & Bitcoin Friendly Countries in 2018
DLT keeps developing in different countries. The study has been released in order to define 10 most welcoming crypto countries for today.
For the list creation, 48 countries have been analysed. The attention was paid at such factors as ICO and general DLT regulations, crypto taxation, and crypto coins treatment as a system of payment. We are suggesting paying attention at the top 10 blockchain countries and discovering why they are considered the best for technological development.
List of Bitcoin Friendly Countries:
- United Kingdom
World’s Bitcoin Friendly Countries
Switzerland is the leading blockchain country due to its positive treatment of cryptocurrencies and the technology in general.
The country has the virtual coins hub – “crypto valley” located in the city of Zug. It also attracts investors by its tax-free environment and positive dynamics of regulations.
Moreover, the country is the leader in innovative DLT applications – from blockchain for education to real estate and healthcare.
In 2018, the Gibraltar Financial Services Commission (GFSC) has released new regulations for crypto exchanges. The intention is to make the country secure and welcoming for crypto business.
Gibraltar has no tax on capital gains or added value – only low income tax exists. Positive regulatory framework attracts a lot of DLT-based startups to the country.
The established system of regulations for both DLT and ICO projects encourages further technology improvement and implementation.
Recently, officials have given an approval for three bills regarding crypto sphere. For instance, TAS bill states that certification of DLT service provided is not necessary, and another bill is based on the establishment of Malta Digital Innovation Authority.
Moreover, huge digital coins exchanges such as Binance and Okex are moving their businesses to Malta.
4. United Kingdom
UK has a big potential to become the crypto leader. The recent report by the Guardian estimates that the country’s DLT-based companies have got over £ 500 million (around $637 million) of investments only for the past two years.
Also, UK’s Financial Conduct Authority (FCA) has released the task force to investigate the regulatory possibilities and expand the crypto sector.
Denmark is considered to be one of the most crypto friendly countries due to the absence of DLT regulations.
Moreover, Denmark has joined the EU blockchain partnership, and plans to use DLT for improving shipping industry.
Germany has adopted laws creating the positive environment for DLT – crypto transactions are not taxed in the country, and BTC is considered the legitimate currency.
Also, in April, 2018, German securities bank, Wertpapierhandels Bank, has started to trade crypto coins – the service is available for institutional investors.
In May, 2018, Portuguese Parliament has created the legal framework for cryptocurrency companies with the aim to expand DLT-based services and ensure safety in the issuance of crypto coins.
According to new regulations, cryptocurrencies are free from the income tax, and may be free from the VAT under certain conditions.
8. The Netherlands
Under the Netherlands’ Financial Supervision Act, crypto investments are not regulated in the country.
Also, the ambassador of the Dutch Blockchain Coalition has presented the research agenda with the focus on DLT. It aims at investigating the technology more in order to get the maximum advantage of the possibilities enabled by it.
Finland’s government officials stay neutral to the cryptocurrency sphere regulations. The country does not have special strict rules for crypto coins, and taxation is friendly – no VAT payments for example.
According to the recent government’s regulations, individual cryptocurrency operations in Belarus are free of taxes until 2023.
Crypto transactions and business are also not taxed for residents of Hi-Tech Park Belarus – companies working in the special economic zone. This way, the country plans to improve the technology and raise the quality of business operation.
Blockchain technology and its applications will be discussed by crypto experts from different countries at the Blockchain & Bitcoin Conference Switzerland. Don’t miss the opportunity to meet specialists and learn more about DLT!