7 BITCOIN FRIENDLY COUNTRIES

1. Canada

Bitcoin has an active community in Canada, which was the first country to sign an official law that regulates virtual currency.

2. Malta

Malta has turned to a safe place for cryptocurrency firms and businesses due to its tax-friendly environment, even for foreigners. It has been recognized by the government as a medium of exchange and store of value. The country has a prime minister that’s fully in support of virtual currencies and he even made a case for cryptocurrencies and blockchain adoption at the UN’s general assembly.

3. Netherlands

The country’s capital and one of its biggest cities, Amsterdam, is home to the top bitcoin startup companies, including BitFury and BitPay.

4. Slovenia

One of the biggest bitcoin exchange platforms Bitstamp is based here. Slovenia has a crypto-friendly government and their financial institutions don’t restrict those engaged in bitcoin transactions.

5. Japan

A leading country in the crypto space. Japan was the first country in the world to approve Bitcoin as legal tender. The nation was also the first to pass broad regulations to its various cryptocurrency exchanges, aimed at improving their security. Only Bitcoin profits generated are taxed but not holdings.

6. Switzerland

The largest city in Switzerland and a major financial centre, Zurich has 64 merchants who accept bitcoins and eight ATMs serving a population of 366,000. The intention of the country to become a haven for crypto businesses was declared by its Economic Minister in January of 2018.

7. Belarus

Belarus has a population of approximately 10 million people. It has friendly crypto regulations. Belarus has waived all taxes on cryptocurrency transactions and income for five years, till January of 2023. This means no taxation of mining, trading, or other business activities involving cryptocurrency. Bitcoin gifts and inheritances are also exempted from tax.