Crypto crackdowns around the world have been the topic of crypto news for months. Some countries impose strict rules to regulate trading, while others outright ban crypto mining. But these do not mean that digital asset investments are a lost cause. After all, many governments continue to accept and adopt cryptocurrencies. Get the lowdown on pro-crypto countries from trusted blockchain technology companies.
Top Governments That Say Yes to Cryptocurrency
Most blockchain investors limit their ventures to places that welcome cryptocurrency, and with good reason. After all, it is one of the best ways to take a step closer to ensuring great returns. Here are some of the governments that support crypto and some of the steps they have taken to adopt it:
Government of Singapore
Legal authorities in Singapore consider Bitcoin and other digital assets as goods. As a result, companies that operate with cryptocurrency only pay 7% in tax. Singapore set a solid regulatory framework for crypto services in 2018, which helped prevent fraudulent activities. It also attracted investors from all over the world. Most rely on digital asset management to stay ahead of the competition.
Government of Japan
The land of the rising sun has some of the most progressive crypto regulations worldwide. Japan set clear tax guidelines for investors in 2017. The Japanese Virtual Currency Exchange Association (JVCEA) passes and enforces rules and standards. It consists of 20 groups to ensure objectivity. The country also considers crypto assets as legal tender.
Government of Switzerland
Switzerland is a hub for blockchain technology companies and top crypto exchanges. Zug, one of its cantons, became known as “Crypto Valley,” as it is home to hundreds of blockchain startups. Digital assets are also a part of the nation’s day-to-day activities. For instance, Swiss railways accept bitcoin as payment, and many Swiss banks support direct crypto transfers and deposits.
Grand Duchy of Luxembourg
Luxembourg considers cryptocurrencies as intangible assets, so they are not subject to income tax. It also exempts digital asset trading from VAT. These tax perks alone make Luxembourg a great place for blockchain investors. The presence of several thriving exchanges within its borders further proves its pro-crypto stance.
Government of Malta
Malta passed three bills that enacted a bespoke framework for digital currencies in 2018. And it has since been a staunch supporter of crypto. So much so that more than $70 billion moved through the island country in recent years. Amid concerns over the “lax oversight,” Malta maintains that its crypto sector is robustly regulated.
Stay on Top of Crypto Trends With Key Coin Assets
Whether you have investments abroad or just love to travel a lot, it pays to know where crypto stands in different places. Remember, even the best cryptocurrencies to invest in are not accepted everywhere.
So let Key Coin Assets help you stay on top of cryptocurrency news. Our experts will not just help you keep track of the latest trends and developments. They will also make it a point to give you the lowdown on the ones more relevant to your ventures. Are you also looking for top-notch digital asset management solutions? Contact us NOW at 843-886-9547 to start investing in yourself!