Cryptocurrencies are being examined by some of the most famous figures in the industry. But, when it comes to the underlying Blockchain Technology, everyone appears to stand on a common ground on adopting the technology for better views. Blockchain finds its application in many Industries like HR industry, Healthcare, supply chain management, entrepreneurship, and electoral method to name a few. The Financial Institutions as well as the Governments of many countries have recognized its potential and have come ahead for the Research and Development in the Blockchain Technology as it is yet in its nascent stage. They have been staying for the Crypto based industries as they have seen the right notion about it. Some of the most selected countries are noted below.
Switzerland
A Central Western European country has the recognition of being of the most attractive crypto place. It has been very supportive towards the Blockchain Based companies. Having one of the most stable economies is the nations Swiss Federation. According to news, the per capita income of the residents of the place is somewhat higher than the average of the world. One of the earliest adopters of Bitcoin also entrails the most necessary improvements in the cryptocurrency field to safeguard the interest of their people.Gibraltar
To make some blockchain startups and cryptocurrency associated companies, an executive body of the government, the country’s Financial Services Commission has taken a move ahead and have stated licenses to such organizations. The state is also critical to introduce one of the first exclusive Initial Coin Offering regulation. Due to the Flood in the investments in the year 2017, the state had also urged its citizens to be a little careful with Investments. The country’s Stock Exchange has also introduced one of the first cryptocurrency stock named BitcoinETI. Some of the authorities even claim that an asset supports the product. The country was already also regarded as one of the most moving Blockchain countries back in 2015.Malta
Also known as the Blockchain hub, the country has established some regulations to take charge of the Blockchain industry. It is also well understood that a stock exchange program for the development of finTech forward with the cryptocurrency based startups, is strongly backed by one of the most significant crypto exchange, Binance. The exchange has authoritatively also opened a bank account in the country. Bitbay, which was one of the advance cryptocurrency exchanges in Poland was forced to move to Malta due to stringent regulations in Poland.Bermuda
The country has no set of tax apart from minimum payroll tax which accounts for only 10%. Many companies around the world have taken this particular advantage. For instance, Google invested $10 billion in one of its subsidiaries in Bermuda to release from taxes of $2 billion. The island well recognized for its conspiracy theories levies light taxes on bitcoins linking to the free world of the crypto market in the region. Bermuda Monetary Authority which is the country’s economic regulator has taken a stand to regulate the cryptocurrency field to stop any abuse of the technology without limiting its development. The cryptocurrency exchange, Binance has spent almost $15 million in the country. The AML (Anti-money laundering) standards are to be achieved for the free and frictionless functioning of the cryptocurrencies.Slovenia
The country’s lifestyle ranking in the world is at 14th position. The place is more well known for its hydroelectric and cloud mining services. Bitstamp, one of the essential crypto exchanges was launched in the region 2011. The country describes cryptocurrencies as virtual currencies and therefore are not liable for taxes. But, citizens involved in crypto mining require to pay respective amounts of taxes. The Prime Minister of the country also made an open declaration stating that he wants the country to be one of the acclaimed names in the blockchain industry.
Conclusion
Some of the countries by their ban or regulation forced many cryptocurrency exchanges to quit, and then several nations welcomed those cryptocurrency exchanges with full arms and therefore became a convenient place in the Crypto industry for all the Crypto startups and services.