[2019-04-21]Top 5 Blockchain & Cryptocurrency-Friendly European Nations

[Vladdirescu87]

Innovative technology giant countries such as Malta, Italy, Switzerland, Denmark, and Estonia, are in the top 5 European nations which are friendly to blockchain, Bitcoin and other cryptocurrencies, and have acknowledged the importance of creating a cryptocurrency focused economy. Nevertheless, forming, registering and operating a cryptocurrency firm, how much good the ground is levelled, the crypto businesses in the continent still experience serious problems.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: http://bit.ly/2GyM8JI

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[LeGaulois]

A country can be "blockchain friendly but not "crypto friendly".

Also calling a country blockchain/crypto friendly is subjective. For exemple, following the author's logic, a country with only 2 companies is labelled as "friendly". (Such big, much important) I guess there are several dozens of countries to add to the list so.
Personally, I wouldn't call a country friendly just because companies are located there. I would call if the country and/or its citizens use blockchain/cryptos. (cryptos, smart cities, ...)

[InvoKing]

-snip-

I agree.
From what I understood, a country that letting blockchain/crypto related business expands without restrictions (for the moment) are friendly.
The most important thing imo is when seeing regulations on the usage of crypto + finding many people using it.

[Theb]

I'm surprised that they have added in Italy for those reasons when obviously the cryptocurrency scene in Italy isn't even comparable to Liechtenstein or even in Cyprus. To start Italy has no proper regulation yet for the crypto industry, they don't even have any updates regarding their legal framework about it since last year, other than that Italy is more focused on the blockchain technology itself and not the cryptocurrency side of it. To tell you honestly this list would have been more reasonable if they have included the small island country Cyprus who has some colleges offering blockchain/crypto related courses already as well as having a crypto friendly law for businesses related to it, Italy isn't really deserving to be in the list as of yet.

[buwaytress]

I'll agree with Switzerland to some extent. If you can easily pay taxes in some municipalities with Bitcoin, and you can get on public transport with it, that's friendly. Estonia I would agree even more... the e-residency programme, for example, the way they're moving toward actual application of blockchain tech, the way they've been issuing licenses for exchange business (compliant in the EU too).

Malta, sure, but it's just an offshore jurisdiction and even an established business there doesn't sit right with a lot of countries because of past reputations.

But like Theb points out, what the hell's Italy doing there? They're so behind. Doesn't Netherlands get a mention for having one of the highest concentration of nodes and blockchain expertise, Bitcoin is not frowned upon by the DNB, and home to one of the original Bitcoin Cities?

[Kakmakr]

The moment when you can pay your taxes directly with bitcoins in a country, then I would agree that it is 100% Crypto currency friendly. I think most of these countries are doing this, because they want to replace fiat currencies with centralized Blockchain solutions.

They also desperate for international tourism and they know Crypto currencies are borderless, so people can flood their struggling economy with Bitcoin and other Alt coins and this will create more job opportunities. 

[anu1908]

netherlands should definitely get included on that list while italy should be removed. lots of strong projects that i know are based on netherlands so i don't get why the author choose italy instead. estonia is probably one of the friendliest countries out there but there's also a lot of 'scam' ico coming from there. looks like it's really easy to get license for crypto business. too easy even.

[Lucius]

I'm surprised that they have added in Italy for those reasons when obviously the cryptocurrency scene in Italy isn't even comparable to Liechtenstein or even in Cyprus.

But like Theb points out, what the hell's Italy doing there? They're so behind.

If you follow the news from this news outlet, then you can notice that Italy is recently gets a lot of attention mostly in terms of negative things related to cryptocurrency ( mafia-money laundering, crypto cyber crime, terrorism), and now for some reason want to show it as one of the top European countries for bitcoin / blockchain. Ranking is based on as they say famous projects, and Italy is famous for : Industry 4.0, smart city, made in Italy.

Coindol is also have Italian version of site, so they are probably from Italy, which explains so many news related to that country. They say that list is contain top 10 countries (from 48), but they listed only 5. I thought that countries like Germany or Slovenia (Bitstamp), are also friendly toward croytocurrency.

[gentlemand]

I thought that countries like Germany or Slovenia (Bitstamp), are also friendly toward croytocurrency.

I've never heard anything about Slovenia other than Bitstamp. Germany has very friendly tax treatments but they're certainly not friendly to exchanges. It's pretty much the only country where Localbitcoins has been driven out.

No idea either why Italy is on there. Not one single thing of note has come out of there. Prussia has probably achieved more in the crypto space and it's been dead for several decades.

[Lucius]

I've never heard anything about Slovenia other than Bitstamp.

Slovenia is often mentioned as country where individuals do not need to pay tax for profits which are realized from trading :

However, the FURS clarifies that the profit received by individuals from trading Bitcoin (as a result of fluctuation in the cryptocurrency market) is not subject to any income taxation. This is because, according to the Slovenian Income Tax Act, capital gains are generally not taxable if they are derived from movable property or disposal of derivative financial instruments. Taking into account that cryptocurrencies are not defined as financial instruments or shares, they do not fall within the scope of capital gains taxation applicable to natural persons.

I also remember that someone is post abut project in Slovenia which is named "Bitcoin City", and this project seems to be successful with 300 stores in Slovenia now accepts bitcoin as a means of payment in as they say "one of the largest shopping and entertainment complexes in Europe". They also have first bitcoin monument in city of Kranj which is financed by Bitstamp and and blockchain software company 3fs. By all this, this country should be in top 5 on that list.

https://www.nomoretax.eu/crypto-taxation-slovenia/
https://news.bitcoin.com/cryptocurrency-adoption-bitcoin-city-slovenia-croatia/
https://news.bitcoin.com/slovenian-city-unveils-worlds-first-public-bitcoin-monument/

[CryptoBry]

A country can be "blockchain friendly but not "crypto friendly". Also calling a country blockchain/crypto friendly is subjective. For exemple, following the author's logic, a country with only 2 companies is labelled as "friendly". (Such big, much important) I guess there are several dozens of countries to add to the list so. Personally, I wouldn't call a country friendly just because companies are located there. I would call if the country and/or its citizens use blockchain/cryptos. (cryptos, smart cities, ...)

There can be many variations or degree of a country's friendliness towards Bitcoin, cryptocurrency and the blockchain. Yes, there are many countries who are acknowledging and even now utilizing the innovations of the blockchain technology, but they are not sold with Bitcoin -- and China is the best example for this and even Russia. Now, for me, as long as the country is allowing fintech companies with leaning to the blockchain and cryptocurrency to do some business then it can be friendly...though of course just like any other industry we should not expect that there will be red carpet laid down for these players. I am then hoping that this kind of mindset spread to other countries globally.

[shamc]

Why is Denmark in there? Haven't heard anything from them except Lego. Isn't Belarus in Europe? Surely they should be ranked in the top five