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There is nothing more appealing to a crypto enthusiast than an environment suitable for holding or trading cryptocurrencies, In my opinion here are the 5 most crypto-friendly countries.

Malta
Topping the list is Malta. The country has become a haven for cryptocurrency companies and businesses due to its tax-friendly policy, even for foreigners. This country has a prime minister who fully supports all cryptocurrencies.

Bermuda
Bermuda is a small island with a population of about 65,000 people in the Caribbean. This country has attracted companies with a free tax policy. This also applies to cryptocurrencies as the country aims to become a haven for the cryptocurrency industry

Japan
Japan is a leading country in the cryptocurrency space. Japan is the first country in the world to accept Bitcoin as legal. The country was also the first to adopt extensive regulations for more than their cryptocurrency exchanges.

Germany
Cryptocurrencies are considered to be a separate unit of money and an accepted means of payment in the country by the German National Tourism Board 2018. Germany has a cryptocurrency-friendly financial system.

Singapore
Cryptocurrencies will be considered commodities, not currencies in Singapore. Any company dealing with cryptocurrencies is required to pay GST (Goods and Services Tax)

In your opinion, which countries are crypto friendly? Please list

Nice list, have a merit on me ;)

I would add Canada  to my personal list
-Excellent electricity rates, some of the best in the world
-Pro crypto government (tho the banks are still old fools)
-Awesome BTC exchange rate

Definitely agree with your list here, we all know that Malta is home to Binance and Huobi because of it's lax law as far as crypto currency.

Germany on the other hand leads EU, which so many online and offline shops accepting bitcoin as payment method.

And we all know what Japan did, the first to legalized bitcoin.

Bermuda and Singapore, which headquarters most ICO and projects.

If I may add, Baltic tigers, Estonia, Lithuania and and Latvia as well, Bitcoin Payments Are on the Rise in the Baltics. (https://news.bitcoin.com/bitcoin-payments-are-on-the-rise-in-the-baltics/)

Good facts about crypto friendly countries, as we may notice most of them are small countries but we might praise them in the future for their huge steps in Blockchain adoption. They also implement good regulatory protocol and welcoming almost all types of blockchain companies with fair taxation.  

Do not forget about how friendly Switzerland is treating cryptocurrency there, in Switzerland cryptocurrency can take a role as money and allowed to trade it but of course it is not regarded as legal tender. Right now they are doing research regarding Blockchain and aiming to be Blockchain and fintech nation.
running a company based Blockchain in Switzerland is as good as running it in Malta because you will get support from the local people.

There's this list - https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory and some of the countries aren't verified if they really are declaring cryptos are illegal or allowed. South Korea is also a good country for crypto's. There are many exchanges that are from there. But nothing beats Malta, that's the best country so far which you can have a company and have no tax for a certain condition and including Japan.

I agree, most crypto related companies are transferring their HQ in Switzerland because they welcome such innovation.

I dont know why its not on the list of OP.

Netherlands - there are also start-ups in this country that are quietly building their infrastructures or network.

Nice research and I agree with that although we can find more of such countries. Electricity and enabling environment/government is key in the support for cryptocurrency.

Looking at your list of the top 5 most crypto-friendly countries, if I were to start my own cryptocurrency-related business I would go for Malta or Bermuda as definitely these places are tax haven and known for protecting their locators away from the onerous regulations and burdensome policies. Japan is definitely the top big country when it comes to accepting Bitcoin but it also has one of the most regulated environment so doing business there can be a difficult one. Same with the USA where SEC has become so powerful and can be a big pain the ass if one is not careful.

In the list, I would like to add some European small countries/territories like Liechtenstein, Estonia Slovenia, Gibraltar and Lithuania. In Asia, we can add North Korea, Thailand and the Philippines to be viable places to do crypto business. These countries are attracting many fintech locators as they are offering many perks and benefits other countries are not doing. There seems to be a good competition with these countries and that is actually good. As they are saying: "The more, the merrier..."

How about South Korea?
The government there openly accepts cryptocurrency. The government regulates taxes for Bitcoin transactions and prohibits the use of anonymous accounts, meaning that they must use a real identity. In addition, in South Korea, there are also some potential exchanges such as Bithumb and Upbit. With some of these conveniences I think South Korea is also worthy of being listed, what do you think?

Great compilation! Thank you for taking time to gather this top 5 list. I want to ask a few questions though. Did you make this yourself? And on which particular bases or criteria did you make the rank? I am also interested on the others who almost made it to the list. Probably the rest of the top 10? And lastly, Bermuda is not yet a country if I am not mistaken. It is just a very small island in the Caribbean which is under the control or considered a territory of the United Kingdom.

Seems pretty accurate. Hoping for more countries to change and become crypto-friendly in the near future.

Crypto friendly doesn't just mean crypto laws and crypto regulations, actually. If you think about, just because it is legal to spend crypto in a country and legal to do business there doesn't mean it's friendly to the user.

It's a start, but for me the best crypto friendly places not only don't make it illegal but don't make it difficult to use crypto.

After reading on twitter that Portugal is not taxing crypto holders that country instantly became one of my favourites lol. and Singapore is pretty awesome too.

I have read on one article that Turkey is the number one Cryptocurrency friendly country but it is not in your thread how did you come out with the list have you used data, I agree that all of the country listed in your post are all Crypto friendly but Turkey should have a place ion your list better check your list, and check if Turkey really deserves to be according to some articles.

What? seriously where is china and korea they are better than singapore and germany, remember that asic miners for mining bitcoin comes from china, bitmain technologies is in Beijing china and korea seem more into crypto than Singapore to me

I disagree with you, If the regulation and law is clear that makes as a guideline for them. Making crypto relatef transactions easier and faster because they know they are not breaking any laws and it instills confidence for people to hold crypto in their respective country.



Korea - i think outsiders arent allowed to participate in any korean related projects.

China - cryptomining ban and cryptoexchanges are heavily monitored. There is no clear regulation in there.

Although the country does not yet support or contribute a lot in cryptocurrency, it can provide many dreams following several countries above that have developed in the payment sector or others. do not let each country late in taking a stand to be able to get the momentum

Your list is absolutely right. On average I see Malta on every new or old project web page from there. It is worth mentioning crypto paradise. And in addition, I also often see the name Cayman Island. I don't know where it is, but every crypto-related e-mail I receive, surely at the bottom it says Cayman Island. Seems South Korea too. There are several projects from there.

Malta and Singapore are one of the most developed countries with the world blockchain many large exchanges were born in the 2 countries, this is a good adoption of the blockchain is the future for the country, I also expect my country to be like those 5 countries.

Yeah thats true my country Philippines was creating a Crypto Valley of Asia (CVA) up north in the "Cagayan Ecozone" It was an eight hectares of land that was set aside for that ultimate purpose. According to the CEZA a government own agency manage the ecozone, Philipines has attract more locators because of its crypto-friendly regulations, and approach. aside from that development Our country was already adopting fintech development, all in one app wallet, there you can buy crypto paid your bills (utility bills) beep card gaming credits, money transfer, banking ,shopping etc. and it help millions to save time.

This might be not in the top 5 countries according to OP review but Thailand also accepting bitcoin and people can go to vacation and pay the restaurants or hotels use their bitcoin and compare from those places i think in Thailand also plenty of beautiful places deserve to be visited but regarless all of it i think this is one of the progress from bitcoin development and if supose can soon i want to see more countries to be visited accept bitcoin too

Estonia, Liechtenstein and Switzerland may be added to the order of these countries. They are also crypto friendly countries. Check out this link: https://medium.com/æternity-ventures/top-8-crypto-friendly-countries-e6bbf90e8161

For me, Philippines is one of the countries that can be nominated to be part of the best countries that is a considerably a physical platform for cryptocurrencies. Why? Because of the mobile and dekstop applications being developed in the country. It doesn't limit its people in investing and trading cryptos. And also, there is allot of banks, pawnshops and financial institutions that utilizes cryptocurrencies.

You have done a good research to find out which countries are more friendly to cryptocurrency. I think Japan is the most friendly country which has made it easier for the trade and mining of cryptocurrency, but it has supported the entire crypto market as a way to facilitate the people in various ways. My question is what about China in relation to cryptocurrency? If China becomes pro-crypto country, the entire crypto market will progress considerably.

I would add Finland and Estonia to the list but Finland had some backslash with their new taxation system that is horrible. No doubt they will fix it later but as of right now i am still waiting a better solution until reporting anything. We had a better system in Finland already but they screwed us up. That can happen in other crypto havens as well in the future.

In my opinion the most country that crypto friendly is Japan. Their government is very supportive to bitcoin, so if you're going to Japan, no need to convert Yen, just use bitcoin for payment.

I heard that last year China banned all crypto mining activities. and last year there were also some problems with the crypto exchange, many exchange offices moved because of this problem. so I don't think China is included in a country that is friendly to crypto and its holders.

compared to china, korea is better. and I think Korea deserves the title of crypto-friendly country.

I would add china.
Why ? Because even their government is banned crypto, the whales in cryptocurrency many of them are chinesse.
Many big exchanges with super big volume are in china, and i also think when china whales take a move, market will move also

It is understandable for him to do that, we can not expect everybody to know everything. This is why he came up with this idea and created a thread so people can discuss the country that is not listed above.
there are more than that such as Norwegia and Sweden can be considered as one too.

How can it be a paradise if their own government banned it? If you use crypto on that country you won't feel safe because something not good might happen to you. We all know that China is a very strict country and going against their rules is a serious problem. If some whales are chinese then I think they don't live in China.


Tell me an exchange that is based on China. Binance owner is chinese but their office is on Malta as per wikipedia. https://en.wikipedia.org/wiki/Binance

I definitely agree with your list. I don't know much when it comes to other countries, how they view and act with regards to cryptocurrencies but what I can mention hwre is my own country, Philippines. Philippines may not be that big when it comes to adoption and innovation of cryptocurrency but ph is a crypto friendly country. You can use crypto for payment like utility bills and etc. There are shops that are also starting to accept bitcoin and other coins. We don't have such big crypto related companies that are based here in the ph but if small businesses would give chance for crypto, more Filipinos could learn about it. I just hope in the future that more merchants and entities will accept crypto here in my country

You forgot about Switzerland and in my opinion it is much more crypto friendly as Germany. I am living in Germany and I heard that they are also against Libra coin, so nobody knows if Germany is really not against crypto currencies.

Thanks to sharing nice Info no doubt Malta is on top and as per my knowledge the Binance exchange is also now handled from malta and many more. Russia and the rest of Europe are also a good future for crypto trading.

South Korea, Hong Kong, also mostly have a good crypto community. Most projects from South Korea are indeed somewhat closed to public participant, but they really have quality.

Interesting thread here.  I more or less knew that crypto is extremely popular in Germany, Singapore, and Japan but I knew nothing about the same in Malta or Bermuda.

Sometimes I think I'm a citizen of the wrong country, even though I have some patriotism in my blood.  Bermuda and Malta are beautiful countries and it sounds like those would be ideal residences for someone who owned a lot of bitcoin or altcoins.  Unfortunately I'm not in that group, but I'd still love to live in one of those countries.

Yeah I'd imagine Switzerland would be very liberal as regards cryptocurrencies.  They're famous for their anonymous banking industry, tho that's changed over the years.  Germany is against Libra?  That's interesting, but that doesn't mean they're against crypto in general.  Not sure what the major issue is with Libra that's been making it seem so much different than other stable coins, but it sure has attracted a lot of attention and scorn.  Germany is a great country, too, btw.

Switzerland and Netherlands aremuch friendlier to crypto as compared to Germany. Even their tax regulations have their own crypto space. Correct me if I am wrong.

I think you need to add Turkey to the list. Turkey is a very optimistic country for cryptocurrencies . Does not include any restrictions. In addition, the Turkish state is working on the blockchain itself and wants to add the blockchain to its own currency. There is even a rumour that Turkey is preparing to issue its own cryptocurrency.

I'm agree with TS and his analysis of countries. Malta is the leader. But I want to mention Belarus, where from March 28 2018  can legally buy and sell cryptocurrency. Such operations are allowed to individuals . Moreover, until January 1, 2023, crypto-exchange operations willn't be taxed.

I haven't seen Portugal in your list. As far as I know they have zero tax on cryptocurrencies? Please correct me if I'm wrong.

Indeed all these countries are pioneering the cryptocurrency movement and they will surely gain some economic traction thanks to this, but in order for a foreigner to profit from this he either has to move to obe of the countries listed or create a business there. In either cases there are some complex procedures to follow that might not be suitable for everyone.

each country will probably develop a crypto city either intentionally or not.


we see developers from estonia many times in crypto, but never have i learned about the country's stand on crypto until i see your article. we see the news about China going to launch their own yuan digital currency but i didn't see anyone posted a thread about Estcoin which Estonian government planned on issuing.

Almost all European countries are in favor with the use of cryptocurrency that's why I think they'll be the ones who earn a lot more. Asian countries like Japan, Korea and Singapore are also good places to live because they also support the crypto industry not to mention they have beeb experimenting and researching a lot about digital currency. It is nice to see that this industry is being supported by many countries and I hope that in the future, cryptocurrency will be norm for the society.

Malta is paradise for people in general. Kind people, good climate, you know

Switzerland as highlighted in this link  https://cointopper.com/news/list-of-top-cryptocurrency-and-ico-supportive-countries-in-the-world  (https://cointopper.com/news/list-of-top-cryptocurrency-and-ico-supportive-countries-in-the-world). Most cryptocurrency friendly in the world as stated. Even in the third world country cryptocurrency paradise exist like in the Philippines . There are too many out there too mention. Just wondering why those countries who banned bitcoin in their community doesn't even dare to try. Bitcoin isn't bad though nor good but indeed worth using even though risky.

Switzerland
Zug, a canton in Switzerland, became known as “Crypto Valley” after it passed several progressive laws regulating crypto use and related businesses. The Swiss state railway now even accepts BTC for ticket payments. A number of Swiss banks, like Falcon Private Bank and Julius Baer, also allow direct transfers and deposits of select cryptocurrencies.

If you are one citizens of these 5 countries, you are fortunate enough to be able to use cryptocurrency for several daily needs. Imagine using cryptocurrency where they are acceptable would be very fun.

yes I agree with you the five countries are countries that are friendly with bitcoin. Malta is called The blockchain Island because malta has clear regulations for blockchain and cryptocurrency and the Binance office is also in malta. . Japan is the one who legalized bitcoin as a means of payment and the name of the founder of bitcoin is also from Japan. then I will add one more country, Switzerland already accepts bitcoin as a means of payment.

Could you tell me where is Bermuda country? have good destination place for holiday there? I like if country have legal bitcoin because when we make travelling we not worry have to change our money become local money country with higher convert, I want to check best destination place in Bermuda country, I am interested with name his country.

I noticed that almost everyone is pointing out Switzerland. According to thee news, the  country's  central bank is exploring the use of cryptocurrencies for trading in partnership with SIX Group. It's quite remarkable how open minded for technological advancements these governments are. I just wish that other governments can also consider this side and not ban or legalized the use of crypto in their country.

The countries adoption cryptocurrency is building up, its getting more and more. Its damn exciting to see how much the altcoins I hold will be when finally we moon. I don't see Venezuela and Brazil in the list as well, this lists is incomplete.


I have no idea also but it only has 65,000 Caribbean people as it says so it must be in Caribbean Island. 65k population is very few.

I chose Japan as the best country for cryptocurrencies.  because of its location in Asia, it is an example of how to develop the cryptocurrency industry that should be emulated by other countries, especially Asia.  because not many countries in Asia allow open circulation for cryptocurrency. and Japan being an example and prove that crypto is not a threat.

This one is a little weird lol. So if someone pays using crypto currencies, they will also have to pay with fiat to cover the Goods and Service Tax? Or will the seller cover that. So since it is considered as a commodity, then I guess those who hold it don't have to pay any kinds of tax or anything for their gains.
Anyways, that was a great list. Hope we have more countries that are actually crypto friendly. The more countries we have, the more crypto currencies will develop.

as i know when i read some article, the country is really support cryptocurrency is japan, because the goverment from this country are support the blockchain industry, better than my country where they just neutrl about country, but in few year ago my country have issue to ban bitcoin and other altcoin, but now they are neutral, not support or ban them

If Germany can make the list as a country with one of the best economy in the world then the third world countries need more help. Germany and other countries on the list have a good platform for small to medium businesses, with crpyptocurrency they have helped with cryptobacked up loan for these businesses. Most cryptocoins transaction record are difficult to falsify and this had helped  in controlling corruption in their community.

Canada I heard have legal using bitcoin as transaction payment and become my destination if I have much money later, with how excellent electricity rates I think I want live there for several years later, I want to go there about one year later.

As far as I understand, Portugal only exempted taxes for payments by cryptocurrencies, not a tax incentive for companies about blockchain and cryptocurrencies. Moreover, these policies have just been applied, so Portugal may not be known as a crypto-friendly country.

It is flawed because I have ignored Switzerland, they are also cryptocurrency friendly country, they have a territory called Zug, it is called "Crypto valley", where many good policies with cryptocurrencies are applied.

I agree with you that these five countries are five cryptocurrency-friendly countries.
Since the country is in Malta, they have a fully supported prime minister all of the electronic money, Bermuda, which has free tax policies, Japan is the first country in the world to accept bitcoin as legal  ;) ;) So I think 3 countries Malta, Bermuda, and Japan are 3 crypto-friendly countries, in my opinion

Crypto trading is welcomed by almost all of those country that are considered as developed as they understand the true power and worth of technology. Bitcoin is the future of money. Majority is still unaware of it and only a small portion of world population is investing in digital currencies. These are the people who will become rich in future without doing any hard work. Such supporting countries are also important for prosperity of new technologies.

that's why because people and goverment know about the technology of blockchain where they can't controll it, so in few country cryptocurrency is illegal.
and other factor goverment scared about money laundry using blockchain.

Well they're not only countries, but there are also states in the United States which do not charge income tax, maybe they would be good? I don't know.

it is very small list, as I know Ukraine and Russia is crypto friendy and more over people can use crypto currencies as paying method

Yes, the OP is only discussing a small portion. Many members mentioned South Korea as one of them, Canada, the Netherlands and several other countries. Hopefully the input from the members can be considered by the OP to update this thread to be more informative.

The countries that have come out with no bias or pretentious mind, to affirm their acceptance and trust in cryptocurrency are already doing well with it. In fact, a lot of their citizens are happy about it, because it is like a freedom that is extended in love. With time, the number of countries in the world, will be favored and highly blessed.

Japan became one of the first countries that is friendly to cryptocurrency. Many restaurants or merchants are allowed to accept crypto as payment while Malta is already known as a country that is regulated friendly so many exchangers open their headquarters there.

many regulation are published about cryptocurrency, especially for tax in USA, that's why make people and company don't want running business about crypto and blockhai in this country

It's interesting because Malta has been historically known for their positive attitude towards bitcoin and crypto business regulations, but yet, Bittrex international seems to be seeking their way out of Malta for one reason or another.

Either way though, these are the countries that stand the most to gain in the long term future.

Crypto, whether centralized or decentralized, will generate significant government revenue to anyone who is bothered to create an environment that encourages financial innovation.

Some other countries are now embracing cryptocurrency and for those that gave not fully approved of it, their citizens have started investing in crypto and are gradually waiting for it to be adopted by their country as well.

Estonia i think is cryptocurrency friendly also, and you can open cryptocurrency company.

I think the crypto market has a lot of business benefits so I believe that one day the cryptocurrency market will be legalized around the world. We live in the era of Blockchain technology and can use this technology in so many different fields. In fact, some big countries like Japan or Singapore are starting to develop this technology in a positive way and surely people can apply it in everyday life.

Of course, some countries don't like the appearance of this market because there are so many money related issues. Anyway hopefully one day my country can legalize this market.