Bitcoin Forum

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

From Complete List - Bitcoin Friendly Countries for Cryptocurrency Businesses in 2018
https://99bitcoins.com/bitcoin-friendly-countries/

You can find in this article a list of countries supporting cryptocurrencies with a brief summary of laws and banks allowing or opposing to the usage of cryptocurrencies. Interesting  :)

Switzerland still bars local banks from opening accounts to crypto companies nevertheless may local politicians speak in favor of crypto.

I like his blog,by the way
the author knows his stuff and posts quality articles
this one is very informative and interesting to read,he missed or omitted on purpose a few
like Australia,South Korea,New Zealand,but he did alot of research and the brief summaries are way better than many of the separate articles on the subject countries

I like how Japan has a pretty low ranking in the list. If we look at all the noobs echoing each other, they seem to think that Japan is a tax paradise, but it's more like a monster in reality.

55% in the highest category is straight theft. You do all the effort, expose yourself to the risks tied to this hostile market, and you are not even allowed to keep the major part of your profits, how fair is that.  :D

I however do like their harsher requirements when it comes to exchanges. It's the only country thus far actively trying to up the overall foundation of the exchanges, all to prevent false hacks and whatnot.

It's going to be way harder to perform scummy practices with the authorities ready to whoop your ass.

In many countries, there is a confusion about bitcoin. They could not determine exactly how they would take a step whether they would accept it as an asset or asa currency, it is not clear yet. But in time, I think that all countries will take similar steps. The only problem will be taxation. I hope the most appropriate rates of taxation will be possible.

At least the Japanese will not have exchange like yobit, Hitbtc, cryptopia, poloniex, bittrex and so many other new exchanges that do not provide good quality services, and always their clients lose money, are humiliated, and waste their precious time ... because the support of these exchanges that I have spoken, does not have respect for its clients. Yobit is the worst on this list. I would be very happy if someone discovered the true yobit address and reported yobit to the police. we need governments to regulate exchange and ICOs


hostile nations are rare?

Bank of Finland Releases Scathing Crypto Report, Calls Digital Currency a “Fallacy” (https://cointelegraph.com/news/bank-of-finland-releases-scathing-crypto-report-calls-digital-currency-a-fallacy)

Indian Supreme Court Continues to Uphold Central Bank’s Ban on Crypto Dealings (https://cointelegraph.com/news/indian-supreme-court-continues-to-uphold-central-bank-s-ban-on-crypto-dealings)