The 5 countries that were considered friendliest promoting the development of cryptocurrencies during the year 2020

[Barbarellah 2225]

Hello everyone!

After a detailed study and the compilation of information through several articles, I have prepared a small list of the countries that most promoted the development of cryptocurrencies in 2020.

In this way I will name:

Singapore.
Which has established itself as a hub for cryptocurrency exchanges, companies and blockchain companies in the Asia-Pacific region. And something that stands out in particular is that Singapore is one of the few countries that has zero capital gains taxes on cryptocurrency income.

Switzerland.
According to Swiss Info, there are more than 900 blockchains and cryptocurrencies operating in Switzerland, generating around 4,700 jobs.

South Korea.
Where a thriving community that operates with digital assets has developed, achieving great progress in the blockchain and cryptocurrency space, becoming the world leader in 2020.

Japan.
Considering itself the healthiest country in the field of cryptocurrency exchanges, with a highly regulated environment but really friendly to the world of digital assets.

And finally:

U.S.
That even taking into account the amount of institutional and governmental obstacles through regulations, it has taken a very important position in the role that the traditional financial sector has unknowingly played in promoting the use of cryptocurrencies.

Do you think there is any other country considered friendly to the development of cryptocurrencies that we could also add to this list?

[abohasnn9 2401]

My friend, your article is very important, in my opinion, the country of China is the largest promoter and country that operates in the field of cryptocurrencies, especially mining, and its huge farms. Russia also comes from the largest countries that support this field, and Russia has the second largest country after China in terms of mining farms. Thank you

[tienda 8776]

Thank you for sharing the information, I think all developed countries are on the way to develop the cryptocurrency, because their people are using the cryptocurrency, so they are obliged to develop it. The governments generally intervene when a valuable mineral is found in the land of their country, to collect taxes … Etc is the same thing will be happened with cryptocurrency.

[Dedo 263]

Thank you ...

I think we can add Russia and China to the countries that are very interested in cryptocurrencies and mining .and I think that technologically advanced countries have begun to consider that cryptocurrencies are the natural development of commercial and financial exchanges between countries, companies and people, so they began to pay attention to them and monitor their work and work.  To develop it to serve the interests of those countries

[Jack764 1841]

We thank the fragile states for their support for this excellent future project, and all countries should take such measures to help us develop this field and increase its spread.

[cryptovlek 2597]

Being blockchain friendly may not mean that a government or country is also friendly on cryptocurrencies. A good example of this is China that is promoting blockchain technology while having banned cryptocurrencies from being used or traded inside the country limits. The blockchain is a technology that is used in many ways except crypto.

[Ridam 7455]

The countries that you have mentioned are really doing well. If we talk about Singapore only this time they are doing great in the field of promotiom and development of Blockchain infrastructure and Crypto promotion.

I would also like to add ,Iran on the list as this time they have npt onpy allowed Iran miners to buy Bitcoin but also the government is asking miners to sell btc to the government.

And , India is also doing well after allowing banks to deal with the exchanges this year and many great projects are growing there as its the place for huge oppurtunity because of its huge number of population and cheapest internet service.

[zhoutong 2188]

Most of these countries were traditionally having favored cryptocurrency adoption. Lately I have seen something that I was expecting, adoption to happen in countries that are not economic superpowers. We see Nigeria, Ukraine, Venezuela, Turkey, Belarus, all adopting Bitcoin and using many cryptocurrencies, investing, trading but also using them for the daily expenses. This is the healthy adoption, to have each part of the world embrace cryptocurrencies.

[Ameralsamt 2558]

Yes dear they are really wonderful countries, they are studying the future greatly and well, they are really contemporary n developing dramatically and know that the next in the global system is cryptocurrencies, so thank these countries very much, it's really good. 

[percare 3192]

South Korea had been very strict and perhaps the worst out of this list of countries, it could have done a lot more, but it was creating problems busting in exchanges where no irregularities were found, imposing heavy taxation for traders and even considering restrictions on privacy coins. Maybe South Korea needs to relax with all that and allow cryptocurrencies to grow, there are many good projects coming from this country and it was always promoting technology and innovation.

[Raqeebzy 6456]

On 1/10/2021 at 1:12 AM, Barbarellah said:

Do you think there is any other country considered friendly to the development of cryptocurrencies that we could also add to this list?

I would say San Francisco is probably the most cryptocurrency friendliest state though people tends to overlook it because it is based in the US and that comes with some sort of regulations which might be considered harsh.

Apart from the fact that popular exchanges, Kraken and Coinbase is from there, it is the state with probably the most bitcoin vendors and BATMs.

[bogdanoff 3173]

The only one I didn't know and I am still not so sure, it is Switzerland. Perhaps all these blockchain companies and cryptocurrencies mentioned to be based in this country, may only have just a licence to operate there and not actually be based in Switzerland. Basically I don't know any crypto project to have Switzerland as a base of operations, maybe I am ignorant in this.

[Khan 1414]

Crypto is spread to all over the world and now many countries which are not currently in your list like most of the Asian countries are trying to be involved into the crypto world.

[Dang3r 103]

I think that the list should include many countries in South America, which plan to create regulations around cryptocurrencies, such as Argentina, Brazil or Colombia, or some countries that indirectly bet on adoption since they do not regulate or talk about them.

 

Other countries can be Alaska and Hong Kong.

[Xpose 23]

On 1/10/2021 at 8:12 AM, Barbarellah said:

Do you think there is any other country considered friendly to the development of cryptocurrencies that we could also add to this list?

I think UK is also need to be added in that list. Base on what I know, UK also do some things that helps crypto to be popularly know on their country. I also know that they already allow crypto to be use in their country and it already have an atm there. So I think they deserves to be on that list.

[yonkii 3205]

I don't think this is a country thing, but some have applied better terms for the development of new cryptocurrencies and blockchain projects. I don't know if they give grants and help financially these companies as we are talking about companies, but the big problem is in economies that have banned and regulated strictly cryptocurrencies. This move creates less chances for adoption. Not making anything or just allowing without being "crypto friendly" is enough.

[jcmpalacios 53]

You can add to your article Ukraine, Russia and Venezuela are the countries that used cryptocurrencies the most in the 2020: they negotiated more than 50 billion dollars in one year.

[Serbberq 724]

Thanks for sharing, actually those countries are advance about digital activities and they are friendly to cryptocurrency. And they are more advance than other countries around the world. 

[Whited35 15285]

On 1/10/2021 at 5:57 AM, Barbarellah said:

Singapore.
Which has established itself as a hub for cryptocurrency exchanges, companies and blockchain companies in the Asia-Pacific region. And something that stands out in particular is that Singapore is one of the few countries that has zero capital gains taxes on cryptocurrency income.

Oh yes, Singapore is obviously at the top of the list. Over the past few years, Singapore has done a lot in the crypto world by adopting the favorable policies to let companies to get started crypto and blockchain-based services. Government has recognized some cryptocurrency exchange platform like KuCoin, Phemex in Singapore. Rest of the countries from your list are also doing well. 

Edited January 16, 2021 by Whited35

[Obliv0n 333]

On 1/9/2021 at 7:12 PM, Barbarellah said:

Switzerland.
According to Swiss Info, there are more than 900 blockchains and cryptocurrencies operating in Switzerland, generating around 4,700 jobs.

South Korea.
Where a thriving community that operates with digital assets has developed, achieving great progress in the blockchain and cryptocurrency space, becoming the world leader in 2020.

Japan.
Considering itself the healthiest country in the field of cryptocurrency exchanges, with a highly regulated environment but really friendly to the world of digital assets.

It does not surprise me that these countries are on the list, Switzerland has always shown some support to the crypto world, placing itself in a neutral or optimistic position, in the case of South Korea the same despite being one of the Asian countries with more focused regulations in the profits of the traders and in the case of Japan they do whatever it takes to save the economy.

[Bruno52 1141]

This is a great list of countries promoting crypto currency but I would like to include Australia on this list as there are people there who work and gain crypto currency as their salary and I think that this is a big step in the adoption process of crypto currency.

[Alsh9 1007]

In fact, I did not have any information about the countries that deal with Bitcoin officially. Now, I know it. All of us here hope that a town will be a forerunner to do the promotion of digital currencies. I hope so in the future.

[Syedbesharat 5423]

Their are other countries who also have contributed in crypto progress where they are Germany who allowed their national bank to adopt crypto currency and U. K as well where they are giving crypto over fiat to their customers. The Turkey have over 50% payments and operations in crypto ,like Venezuela who have promoted crypto as payment for different sectors.

The Dubai made a crypto free zone with ATM machine installed of crypto. The Nigeria, Malaysia, Indonesia ,India and Malta.

These countries make a huge contribution during 2020.Thier for we can have now good number of countries in crypto friendly country list. This list is expending day hy day and now 3rd word countries are thinking about crypto legalisation. 

[MonaAhmad 146]

Yes, my friend, she is indeed developed countries and always strives for the better in all fields, especially in investment and strengthening its economic position

[Khan 1414]

On 1/21/2021 at 8:39 PM, MonaAhmad said:

Yes, my friend, she is indeed developed countries and always strives for the better in all fields, especially in investment and strengthening its economic position

Countries involvement in the crypto filed can bring both benefit and also poverty because crypto is not a filed for the poor or un-educated person and it require knowledge and investment(in some cases).