Bitcoin Friendly Countries for Cryptocurrency Businesses in 2018

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From Complete List - Bitcoin Friendly Countries for Cryptocurrency Businesses in 2018

Source: https://99bitcoins.com/bitcoin-friendly-countries/
Posted: May 23, 2018
By: Steven Hay

One of the great advantages of Bitcoin is its international nature. Wherever you are in the world, so long as you have an internet connection, you can use Bitcoin to send and receive money. That said; some parts of the world are much friendlier to Bitcoin users than others.

Anyone seeking to set up a Bitcoin business will naturally avoid those rare countries which actively discourage its use, either through burdensome regulations, harsh taxation, hostile banks, or even outright bans.

The good news is that such hostile nations are rare. Most governments are still deciding on how to approach Bitcoin and have yet to pass decisive legislation. The usual approach is to classify Bitcoin under some pre-existing category so that standing laws can be it applied to it, usually for taxation purposes.

Certain nations are however making a concerted effort to embrace Bitcoin, as they realize that Bitcoin could be of tremendous benefit to their economic future. By encouraging Bitcoin adoption and attracting Bitcoin companies, these nations seek to place themselves at the forefront of financial innovation.

This article examines the best possible countries to establish a new cryptocurrency business. We examine the tax rate on Bitcoin and the attitude of lawmakers and banks towards it. As such facts are subject to changes, sources are dated.

Countries are ordered them from best to worst, based on how low their taxes are, then by the clarity of regulations, then by friendliness of banks and finally how nice and business-friendly the country happens to be.

Tax Tip: If you’re interested in tax treaties between your nation and one of those covered below, this Worldwide Tax Summaries page by PwC should prove enlightening.
Banking Tip: To discover banks around the world which have been rated by users as either friendly or hostile to crypto, check out the
Moon Banking site. Share your own experiences with banks to improve the site.

List of countries:
1. Malta
2. Bermuda
3. Switzerland
4. Gibraltar
5. Slovenia
6. Singapore
7. Estonia
8. Georgia
9. Belaurs
10. Hong Kong
11. Japan
12. Germany