Love Crypto? You Should Move to These Countries

Love Crypto? You Should Move to These Countries



everyone welcome to another episode I'm on the river again in Thailand more beautiful limestone views today I want to take a look at all these different countries and how they are dealing with cryptocurrencies so more specifically I want to take a look at which countries are the most crypto friendly so let's get into it crypto currency and blockchain technology is a way for countries to establish themselves as an asset in an emerging market now whether they need a new currency to adopt to help them escape from the vacuum that is hyperinflation or if they have been struggling to attract new businesses that can help boost their own economy both of these scenarios can certainly be remedied by the adoption and facilitation of blockchain technology and crypto currencies there are a number of factors that can contribute towards a country being labeled as crypto friendly I'll outline them first now and then we can go over specific countries and see how these factors affect the businesses and the users of cryptocurrencies there firstly and probably most obviously has to do with taxes how does the country label crypto currencies as property as legal tender as nothing in turn how does that affect the profits of those who trade with and use crypto currencies this next one is a huge factor for many blockchain based companies to consider if they want to base their operations in that country and that is regulations are they very strict suffocating almost are they lakhs are they so relaxed that it could end up cracking down in the future and ultimately trap some companies into situations that they suddenly deem illegal another factor to consider is the overall sentiment towards the use of cryptocurrencies in that country are there very many businesses and accept cryptocurrencies as a form of payment are there very many citizens who are aware of cryptocurrencies and use them or want to use them one other factor that might seem unimportant but can certainly play an effect is the cost of electricity and the availability of renewable or alternative sources of energy you'll soon discover that places with cheap electricity or places with access to things like hydro electricity will be very alluring for things like mining farms and operations that require lots of computing power now that we've got a little list of factors to consider let's take a look at some specific countries and how they are setting themselves up to take advantage of this new kind of market and economy sugg Switzerland of course has to be named number one because it is now known as Krypto Valley now it's more than just a play on words similar to Silicon Valley it's actually a government-backed Association that was created to help facilitate blockchain based companies and their growth in the area cryptocurrencies here are tax-free and blockchain based companies can enjoy favorable regulations as well so Zog is home to tezo's etherium and shape-shift and others as well we also have Denmark on this list which like Switzerland has a less restrictive outlook on Kryptos in fact they are altogether tax free and also free from regulations there but the government does often warn its citizens of the speculative nature of Kryptos again despite this the citizens can still enjoy tax-free trading and gains we also have Netherlands on this list and that is because Amsterdam is where you can find a Bitcoin embassy also there's quite a high density of Bitcoin ATMs now the regulations here have yet to kick in and the government here like many others around the world is also experimenting with its own cryptocurrency as well the UK has had a hands-off approach in regards to governmental regulations and this has so far resulted in a thriving crypto community in London in fact the crypto communities there have combined to form crypto UK which is a self regulatory body in an attempt to prevent government intervention and to provide and promote best practices for the industry we also have Georgia on this list and now even though you might be surprised to find this one here it's countries like these that have the most to gain for establishing themselves as a crypto hub Georgia is also home to one of the top bitcoin mining farms bitfury lastly I want to talk about Japan now Japan was one considered to be very crypto friendly and many may still see it that way there's no denying the amount of merchants who accept Bitcoin there and all of the advertisements that promote the cryptocurrency but the tides might be turning at least a little bit very recently the Japanese government has decided to ban privacy focused cryptocurrencies from being listed on Japanese exchanges now Japan legally recognizes crypto as legal tender and offers a liberal regulatory environment except for this one more recent ban for those of you residing in the US you probably notice that it isn't listed here it actually isn't found on many other lists of crypto friendly countries either perhaps it's the fact that there isn't a whole lot of clarity in regards to how they will regulate it perhaps it's the fact that despite this uncertainty of regulations there is a certainty that your gains will be taxed perhaps it's the fact that the US has the power and quite often the motivation to restrict things like cryptocurrencies regardless here is a list of cities and states within the US whose local governments and local cryptocurrency groups have foot forth the effort to be crypto friendly despite the ominous threat that the federal government exudes so California is a state where you can find a whole bunch of Bitcoin ATMs Chicago Illinois is home to tight-knit groups of cryptocurrency enthusiasts Wyoming has been in the news in the past for their own crypto friendly tax laws and Arizona at least allows you to pay taxes with Bitcoin litecoin and other cryptocurrencies as well that's it for today's episode if you enjoyed this if you learned something leave a like leave a comment down below especially if you have had maybe your own particularly positive or negative experiences with your own governments dealing with cryptocurrency maybe our crypto community can help help you out and express their own opinions if you haven't already hit subscribe to get your daily fix of all things crypto

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About the Author: Maximilian Kuhn

38 Comments

  1. Unfortunately Crypto is a commodity not a currency. Massive evolution needed before it becomes a viable option

  2. Maybe some thoughts on Malta? https://www.coindesk.com/among-blockchain-friendly-jurisdictions-malta-stands-out/

  3. Amazing how many countries of europe are here on the video!! I know many Dutch people that go aout of the netherland to not pay the taxes on tradings. Singapore is the house of many europeanprojects that decided to dadicate ther because cryptos are there REALLY FREE!

    I would rate this video as not informative…

  4. Yup American gov will gladly take it from you. You will be waiting a long time, until they can figure out exactly the best way to take your money.

  5. Can I suggest that you cover this topic in more detail – and perhaps start with ASEAN geographic region (where you are presently visiting). This includes: Thailand, Malaysia, Singapore, Brunei, Indonesia, Myanmar, Cambodia, Laos, Vietnam and the Philippines. There are many Crypto projects based in Singapore, indigenous projects in Malaysia (such as GoByte) and even MN projects aimed at ASEAN region such as Rupaya coin… Its an important epicenter for Crypto because of the growing economies & populations in the area, and it spans much of the upcoming trillion dollar Silk Road project with around 70% of global trade moving past its ports.

  6. You forgot Bermuda
    .. Binance "is moving thier compliance Dept there plus signed a 10million dollar education MOU. Plus Bermuda is the FIRST country in the WORLD to create regulation around ICOs and digital assets.

  7. ALSO this year EU will make it so no matter what country u move to within EU, your home country (If in EU) will get notified on your income or things of that nature moving around on a bank account u might have opened.
    Smart move of these fuckers!

  8. You are 100% WRONG on Denmark. Crypto is now taxed just like any other capital gain which is close to 50% Tax.
    Welcome to Socialist heaven!!

  9. Great video… I would add Malta and Puerto Rico.. major developments happening at these two locations. Could easily be top 2 within a couple of years.

  10. Yah it was a trip seeing a bitcoin atm here in Ca. But we'll see how the US handles cyrpto in the future.
    Keeping my fingers crossed

  11. I’m not sure what the Aussie government is doing but I’m pretty sure we will be taxed the same as if we were trading stocks and had capital gains.

  12. Nice video Heidi! 🙂
    Hey, what about countries in South East Asia and South America?
    Would love to hear about them 😉

  13. Bitcoin has NEVER been legal tender in Japan! Legal method of payment, yes!
    Legal tender means that bitcoin MUST be accepted  by a person or a  business in payment of a debt.
    "Legal Method of Payment" The receiving end has the OPTION  to accept bitcoin or not.

  14. Wow…it seems you have really begun to hit your stride…excellent videos…excellent content…you are becoming the crypto "go to gal"…congrats.

  15. Unfortunately I'am not a citizen of any, but I am from Europe and here we still don't have any big taxes 😀 also I got to participate in this new project made for travelers, Smart Trip Platform!!! You should check it out.

  16. The beauty of diversity of nations. One nation on this Earth could simply shut down the whole internet, among many other nightmares. Our diversity of nations allows other countries to see things tha may or may not work for their country. One global nation = no choice!

  17. I'm kinda surprised / baffled that you obviously spend most of your time moving around Asia and you mention taxes a lot in this video but you don't say anything about taxes in the various parts of Asia that you are spending time in / getting visas for and instead focus on European countries.

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