The expansion of cryptocurrency into the mainstream has seen a rise in the interest across the globe, but it has also put a number of regulators and governments under pressure as to how they will deal with this rising financial system based on decentralized protocol.
The way in which Bitcoin and blockchain has ingrained itself thus far has seen a mostly positive uptick from the different countries across the globe, but there are still a few that are very anti it, while a number are changing their tune.
The different viewpoints from the different nations have even shaped the crypto space as a number of businesses that are trying to push this new technological envelope have moved their work to more friendly nations. Here are just a few of the more positive states taking an interest in crypto, in different ways.
Long known as a major technological hub and a very forward thinking nation, Singapore is a popular crypto destination for a number of reasons. Singapore is one of the few countries that has put forward zero capital gains taxes on crypto income. additionally, regulators in the small nation have initiated several crypto-friendly initiatives, including the publication of initial coin offering guidelines back in November 2017.
It also ranks high among politically stable countries worldwide, making it one of the best places to register a business while avoiding the long-term risks that often emerge in politically unstable states.
Australia is another country that offers great stability, and in general it has had a very positive and direct viewpoint on crypto that at times may seem strict, but it is at least certain.
Brisbane stands out for its welcoming attitude toward crypto, as it was one of the first to introduce crypto payments in the shops of its local airport back in 2018.
The number of retailers that accept crypto payments in Brisbane sits at about 22, ranking as high as other large cities such as Melbourne and Sydney, which have over 30 and over 70 outlets, respectively.
This Scandanavian country is another high performing first world nation that has stability and economic certainty. But, despite the country’s cautious attitude toward cryptocurrencies, it is one of the few countries in the world that has embraced digital payments as the government prepares to launch a digital version of its fiat currency.