ExNode.ru Exchanger Monitoring – Best Countries for Cryptocurrency Investors: An Overview

Every year, there are ratings of countries for cryptocurrency investors.cryptocurrency, profitability of conditions, degree of regulation of legal norms. These parameters change, so it is better to choose proven countries with a benevolent policy of the authorities.

In such countries, cryptocurrency investors feelsupport: they are either provided with favorable conditions, such as the absence of a tax on bitcoin profits, or they are guaranteed comfort and convenience in working with digital assets.

Switzerland

The Swiss authorities are going to meet investors of crypto-currencies. Experts are gradually introducing it into the banking system, changing the legislation. In some cities, taxes are paid with crypto.

To create any company with share capitalin bitcoin, its owner deposits funds into the account (20,000 francs for GmbH status and 100,000 francs for AG). This is an unusual opportunity for business owners.

Here it is not necessary to transfer the crypt to fiat: direct payments on the company's account in bitcoins are possible.

The advantage of Switzerland is that despitesemi-legal status of cryptocurrency, the structure of digital assets is constantly evolving, adjusting to the current situation. The reputation of Swiss banks allows us to believe that the initiative of the authorities will not be in vain, and they will support the sphere, even if other countries refuse it.

Germany

In Germany, they are friendly towards the crypto community. Crypto investors do not pay tax on profits from digital assets during the year.
Recently, crypto has been recognized by the authorities at the official level: it has become part of the country's domestic savings.

Great Britain

In the UK, there is regulation.Crypto investors receive an FCA license. Both participants are controlled regardless of the activity: they sell or buy cryptocurrency. The verification process prevents illegal transactions and inspires confidence: it raises the reliability of transactions, protects its participants.

The goal of the country is to become the best for promisingcompanies in this area. To do this, the number of offers is expanding: on August 4, 2022, Revolut added 22 positions. The UK is successfully implementing its plans: the number of buyers of the token has increased by 6%, and the number of transactions has increased by 20% compared to 2021.

Canada

In Canada, crypto investors receive MSB status, and with it, obligations. Including many of them are required to register with FINTRAC.

The digital asset is not recognized as official in the countrymeans of payment, but it can be used to pay for services and buy goods. Bitcoin ATMs are popular. Compared to other countries, the disadvantage of this is the need to pay tax.

Singapore

The authorities of the country are loyal to cryptocurrency, do not introducestrict rules. This attracts crypto investors and allows banks to create crypto exchanges, easily convert the digital asset into the Singapore dollar. Singapore is ideal for a blockchain startup.

It was here that the first cryptocurrency trust in Asia appeared. It allows you to invest, store and manage cryptocurrencies.

Australia

Australia develops blockchain technologies, improvesjurisdiction and attracts crypto investors. It is subject to the standard tax but is only recognized as an asset to be bought and sold. Over the past year, the number of investors has increased by 10%: Australia is attracting more and more attention from professionals.

The authorities look up to the leaders of the sphere and monitor the security of storing digital assets. The disadvantage is a high progressive tax.

Malta

The crypto business is growing rapidlyblockchain island. Legislation is sensitive to changes in the field: since 2004, the authorities have been improving the legislation of online games, and since 2018 - digital assets. Investors from other countries are exempt from taxes on gains, capital gains.

Malta is suitable for an investor if he conducts an ICO: the risk for investments is reduced in legal terms. The authorities regulate the legal field and at the same time protect investors.

Expensive registration can scare off investorscitizenship - 1 million euros, large commissions when cashing crypto. You can work with digital assets without being a citizen of Malta. For this, permanent residence is issued.

Salvador

The government plans to create Bitcoin City.The city will not be taxed. The exception is value added tax. It is 10%. The authorities are following the intended program by investing in bitcoins.
They attract investors from other countries: bitcoin is used to pay for services, they are used to do business, and they receive moneyIt is possible to sell cryptocurrency without capital gains tax – this is the main advantage for choosing El Salvador.It is not difficult to obtain a license for activities, and it is also easy to register with a company in this country.

Portugal

Benefits for a crypto investor in this country −no capital gains tax and income tax. The creators of the crypto business are satisfied with the conditions: they are exempt from duties, licenses, etc. The country's prospects are the gradual development to the Swiss level of working with digital assets.

Industry bills are being lobbied in the country.The crypto is used for payment, it is exchanged for cash in cryptomats or withdrawn to other crypto wallets. But officially virtual currencies are not considered a means of payment. Hence the disadvantages:

cryptocurrencies are not required to accept at a designated value;

virtual currency is not insured: there is no crypto reserve fund in the country.

Estonia

After obtaining a license, investors work with cryptocurrency exchanges. Digital assets are withdrawn to wallets, pass through special payment systems and terminals.
Estonia has been recognized several times as one of the best for cryptocurrency projects.Now it is more difficult for crypto investors to deposit funds there because the authorities have legalized digital assets.At the same time, investors received legal protection thanks to the license.The main advantage is the safe storage and interaction with cryptocurrencies.

Vanuatu

Cryptocurrency in the country is accepted as a fee for obtaining citizenship. This is the only country in Oceania where this feature is available. Citizenship has the following characteristics:

it is not connected with residence in the country;

tax residence will quickly change;

to obtain citizenship of Vanuatu means to enter 113 countries on a visa-free basis;

citizenship guarantees personal security;

the process of obtaining citizenship is not disclosed.

Vanuatu attracts with the absence of:

income tax;

luxury tax;

capital gains tax;

tax on dividends;

interest tax.

Summary

Many countries are suitable for crypto investments,associate their policies with digital assets, embed them in the economy or make them the center of it. They attract investors with ideas, favorable conditions, comfort, and security.
The choice of the best country depends onThe goals and desires of a crypto investor, his views on the development of digital assets and plans for the future.The prospects of the crypto winter hint: it is better to choose a country that is not tied only to bitcoin, and createsLegal norms for the sphere guarantee the integrity and safety of digital assets.

Material author: Artur Krasny