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Top 10 Most Crypto-Friendly Countries Top 10 Most Crypto-Friendly Countries

Top 10 Most Crypto-Friendly Countries

Although Australia has been known to have some harsher rules on regulating crypto, this doesnโ€™t stop its citizens from becoming obsessed.

Top 10 Most Crypto-Friendly Countries

Cover art/illustration via CryptoSlate

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Although Australia has been known to have some harsher rules on regulating crypto, this doesnโ€™t stop its citizens from becoming obsessed.

In 2016, Australia removed its โ€œdouble taxationโ€ on Bitcoin and other altcoins, officially considering it all as currencies. Parliament is beginning to understand the implications of blockchain and Bitcoin and has recently formed the โ€œParliamentary Friends of Blockchainโ€ group.

This allows senators and governmental members to interact and ask about all things blockchain and cryptocurrency, to keep Australiaโ€™s government up to date on movements. Australia has recently planned to regulate digital currencies, but this regulation is happening globally and means that crypto is being acknowledged as an important player in the economy.

One Friday in late August, South Korea contributed to 70% of Rippleโ€™s price jump, bringing in a whopping 7% of the entire Bitcoin volume traded that day. South Korea is waking up to Bitcoin in a big way recently, introducing FinTech roadmaps for regulations and investing in research projects from the Central Bank to Bitcoin.

South Korea regularly hosts bitcoin conferences and is set to make Bitcoin a real part of their economy.

The Dutch have been ahead of the blockchain game, researching within the government since 2013. Now, we see many Dutch banks experimenting with blockchain based transactions.

The Ministry of Economic Affairs has revealed a roadmap for the National Blockchain Coalition in 2017 as well to continue to this agenda of blockchain research.

Arnhem boasts hundreds of vendors who accept Bitcoin, competing with Zug to become the first โ€œBitcoin City,โ€ which is sure to attract Bitcoin believers around the world.

โ€œThe Future is Hereโ€ was a report from Singaporeโ€™s central bank stating that they have successfully digitized the Singapore dollar (SGD) onto an Ethereum-based private blockchain.

Although it is still in trial, this is the first real step towards blockchain and interbank payments.

Many ICOs and blockchain concepts are being produced in Singapore, including TenX. TenX is the first working concept of a bitcoin debit card that automatically converts bitcoin to the local currency on a swipe of the card.

Singapore has named itself a FinTech revolutionary for years, so there is no surprise that the country is making strides in blockchain technology.

Conclusion

When diverse nations act in support of an innovation such as blockchain technology and cryptocurrency, it should give you, the investor, greater confidence in taking risks. ย As knowledge and understanding of the crytocurrency market increases globally, other nations will inevitably follow suit. History is in the making as we speak!

Posted In: Adoption