Top 5 crypto-friendly jurisdictions

Dear readers, today we would like to draw your attention to the most crypto-friendly zones around the world.

SINGAPORE

Singapore, an island city-state that is opened to both cryptocurrencies and blockchain. The government and the central bank of the country are chasing a clear blockchain plan with the objective to connect central banks worldwide through DLT (distributed ledger technology).

With regards to cryptoregulation, they had long adopted a free-hand policy for crypto business which significantly increased the level of attractiveness of this jurisdiction among other related projects.

HONG KONG

Hong Kong, even though it is not a separate state, but a region that has the status of SPA (Special Administrative Region) within China, we are still placing it here since Hong Kong is permitted to form its own fate in financial and economic policy. Among other things, in its role as SPA with unique economic freedoms, it fulfills a crucial function in the Chinese crypto-ecosystem.

GIBRALTAR

Gibraltar is a unique space to locate cryptobusiness. For Gibraltar, the picture is much like it is for Hong Kong. The island is officially a part of the United Kingdom, but has a great number of economic and political freedoms. Gibraltar is actively using its status in order to become the greatest blockchain hub in the Mediterranean.

The main purpose here is to help with crypto-friendly legislation. During the past year, Gibraltar created a license for FinTech companies to attract blockchain start-ups. But it didn’t stop there, and this year, the Gibraltar government succeeded in drafting a regulation for ICOs.

MALTA

Malta is the jurisdiction that competes with Gibraltar for the crown in the Mediterranean — and currently is in the lead. Just like Gibraltar, Malta is creating a framework for crypto companies with modern legislation.

This year the former Chinese crypto exchange Binance, the world’s largest market for cryptocurrencies, moved to Malta. Jointly with the exchange and some other big players, the first decentralized bank is now opened in Malta.

ESTONIA

Estonia takes the top position of our list, which may seem surprising at first. Actually, Estonia is European pioneer when it comes to digitization. Needless to say, the DLT technology will not be undetected by the Estonian authorities.

Estonia was one of the first countries that committed to issue its own cryptocurrency. Together with the earlier created e-Residency program, they wanted to develop an Estcoin in order to expedite payment processing.

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