Thesis are the World’s Top Ten Bitcoin-Friendly Countries

Imagine a country where everything fresh te the digital world is not only tested but implemented. Bitcoin.com is proud to present a list of the ten most Bitcoin-friendly countries te the world, where the technology is being tested and used at an increasingly rapid rhythm.

World’s Top Ten Bitcoin-Friendly Countries

The countries are listed te no particular order since each nation has its own idiosyncrasies, differences te population, internet connectivity, etc. However, all of the countries listed have demonstrated their readiness, whether on behalf of the population, the government or both, to embrace Bitcoin’s innovative technology.

Check out Bitcoin.com’s movie listing the world’s top Bitcoin-friendly countries below.

Estonia

The petite Baltic nation of Estonia not only has a history of leaping on the latest technological innovation, but its tech-friendly government seems willing to implement innovations like blockchain technology for healthcare , banking services and even governance by permitting its citizens to become “e-Residents.” This service also gives Estonian citizens and businesses digital authentication. It wasgoed also one of the very first to use a blockchain-based e-voting service that enables people to become shareholders of Nasdaq’s Tallinn Stock Exchange.

Well known spil the birthplace of Skype, it now hosts a number of Bitcoin ATMs and startups such spil Paxful , a global peer-to-peer buying and selling service for bitcoins. With one of the highest internet invasion rates ter the world, Estonia is well placed to be a place where a cryptocurrency users can certainly feel welcome.

The United States

Unsurprisingly, the US hosts the highest number of cryptocurrency users and Bitcoin trading volumes ter the world. Bolstered by Silicon Valley , which is huis to numerous cryptocurrency, blockchain related startups, and the highest number of Bitcoin ATMs te the world, the US has bot at the forefront of the digital currency space since the beginning.

Moreover, spil a global financial superpower, many nations across the globe look to the US for guidance ter relation to cryptocurrency’s legal status and regulatory clarity not only from Washington D.C., but also individual states such spil California , Fresh York , and Fresh Hampshire , just to name a few. Therefore, the US will undoubtedly serve spil the testing ground for crypto-regulation ter the years ahead, spil other nations look on to see which treatment works best (Spoiler: it most likely won’t be Fresh York’s ).

The peer-to-peer bitcoin trading service LocalBitcoins has shown incessant growth ter bitcoin trading volume since 2013 — a good indicator of organic request considering the large population and number of Bitcoin users te the country.

Denmark

Denmark is not only one of the most developed countries te the world te terms of living standards and technology, but it’s also at the forefront of the shove towards eliminating metselspecie te favor of 100% digital currency. Therefore, wide-scale adoption of digital currency is not a question of if, but when. But whether Bitcoin will be used spil a means of exchange or an alternative to the central banking monopoly or both, remains to be seen.

What’s more is that the Danish Central Bankgebouw proclaimed Bitcoin not a currency, stating that it will not regulate its use ter the country. Denmark is huis to a number of Bitcoin startups and exchanges such spil CCEDK, which has bot a prolific innovator ter the crypto-space with latest releases of Bitcoin “3.0” technology and decentralized exchange .

“I think freedom goes well with responsibility, which is something wij are brought up with spil a vital part of all lessons ter schoolgebouw, and with this kleuter of effortless access to crypto, wij all carry this responsibility on our shoulders to bring this kleintje of currency to mainstream acceptance,” CCEDK CEO Ronny Boesing told Bitcoin.com, adding:

“Denmark wasgoed recently voted being the happiest country ter the world, and the open mind towards cryptocurrency is just another reason to be glad living te Denmark.”

The LocalBitcoins trading volume has also indicated gradual growth te request, particularly after plans to eliminate specie were announced ter spring 2015.

Sweden

Similar to Denmark, Sweden is also out te vuurlijn ter the wedloop to eliminate specie. When factoring ter the latest introduction of negative rente rates by the Swedish Riksbank, a surge ter request for bitcoins could become a reality te the not too distance future spil citizens scramble to for safe toevluchthaven to store their wealth.

The Swedish Financial Supervisory Authority (Finansinspektionen) have legitimized the rapid growing industry te the country by publicly announcing Bitcoin (and other cryptocurrencies) spil a means of payment. Tho’ certain businesses interacting with fiat (mainly exchanges) voorwaarde verkeersopstopping for a license te accordance with AML/CTF and KYC regulations.

Sweden is huis to numerous Bitcoin startups including the Safello bitcoin exchange and Stockholm-based KnCMiner, a well-known mining hardware developer that has bot producing cutting-edge ASIC miners since 2013. The LocalBitcoins volume has reflected continued growth ter cryptocurrency request.

South Korea

Huis to a vibrant tech-industry, which includes giants such spil Samsung and LG, and having one of the highest smartphone invasion and mobile payment rates ter the world, it is no verrassing South Korea is quickly embracing Bitcoin both spil an investment and means of exchange.

Since there are no laws te the country regulating Bitcoin use, a number of related startups have sprung up spil a result including Korbit , “a secure and comprehensive service to use, accept, and buy bitcoin” that also concentrates on remittances and cross-border payments. People can also buy bitcoins at 7-Eleven stores across the country thanks to a campaign by South Korean bitcoin exchange toneelpodium Coinplug.

South Korea is also a regular host of Bitcoin conferences and has provided a friendly climate for the local Bitcoin community.

“Bitcoin is about tearing down artificial financial barriers around the world,” said Bitcoin investor Roger Veraf. “As an economic and societal hub te Asia, Seoul is a fantastic place to have a Bitcoin conference.”

The Netherlands

How can a country not be called Bitcoin-friendly when it boasts its own “ Bitcoin City ” i.e. Arnhem with overheen 100 merchants? Here, a Bitcoiner could very likely get everything he wants including gas, accommodation, bicycles, and even dental services.

Cryptocurrencies are presently not regulated under the Act on Financial Supervision of the Netherlands, which is why numerous startups, Bitcoin ATMs and even a Bitcoin Embassy ter the heart of Mokum have sprung up spil a result. The climate has fostered vibrant Bitcoin communities across the country that host regular meet-ups and events.

Additionally, the country’s banking sector, including ABN Amro and ING, has bot increasingly looking at Bitcoin and the blockchain spil a way to improve their own technology and cut costs. The Netherlands is a regular host of Bitcoin conferences and Bitcoin companies such spil BitPay .

Finland

Just like its Scandinavian neighbors, Finland has also bot on the cutting edge of technological innovation, renowned for being the huis of Nokia. The Finnish Central Houtvezelplaat of Taxes (CBT) regulator has classified Bitcoin spil a financial service, exempting it and bitcoin purchases from VAT.

The country has a significant amount of Bitcoin ATMs given its sparse population including Ten ter the capital of Helsinki according to coinATMradar. The country is also huis to exchanges FinCCX and Bittiraha spil well spil the leading global P2P bitcoin exchange LocalBitcoins. Ter January of 2016, the most expensive bitcoin sale involving a luxury voertuig took place at the Auto-outlet Helsinki Oy of a Tesla Specimen S worth overheen € 140,000.

Canada

Canada is huis to numerous Bitcoin startups and ATMs, and is right on the high-heeled shoes of its southern neighbor spil far spil a Bitcoin-friendly climate is worried. The country boasts not one but two cities ter the eastern and western parts that can be deemed “Bitcoin hubs,” namely Toronto and Vancouver. Bitcoin is regulated under the anti-money laundering and counter-terrorist financing laws te Canada following long deliberation and even testimony from Bitcoin pro Andreas Antonopoulos before the Senate of Canada.

Canada is huis to a bustling cryptocurrency community and startups such spil Decentral, the Vanbex Group spil well spil thousands of accepting merchants . Vancouver alone has overheen 20 Bitcoin ATMs while on September 19th, 2016, Toronto is slated to host the largest blockchain conference to date. The LocalBitcoins volume has grown consistently te the country since 2013.

The UK is often seen spil the leading global financial hub and a center of innovation. Therefore, the presence of numerous Bitcoin and blockchain related startups, BTMs, and an active community makes it a Bitcoin-friendly environment indeed. The country also sees fresh payment solution spil unpreventable and is preparing itself for mass-scale digital currency adoption te the future, spil you can already grab a pint at many local pubs for bitcoin.

What’s more is that the Handelsbank of England has bot closely looking at Bitcoin technology and has even requested the public to pitch ideas on how to improve its monetary system. Presently, Bitcoin is treated spil “private money,” where VAT is imposed ter a normal way from suppliers of any goods or services sold te exchange for bitcoin or other cryptocurrencies. While profits and losses on cryptocurrencies are subject to capital gains tax, similar to the US.

UK’s Barclays handelsbank writes:

It is becoming increasingly clear that Bitcoin is part of an even fatter story: financial institutions, including barclays are now considering how the technology underpinning digital currencies – the blockchain – could itself revolutionize finance.

UK’s LocalBitcoins volume has reflected this sentiment, displaying constant growth.

Australia

While Australia’s major banks have bot rather hostile towards Bitcoin , the country recently moved to eliminate “double taxation” on Bitcoin , which came spil good news to the local community and businesses, particularly after some Bitcoin startups chose to leave the country , te light of unfavorable taxation and reported handelsbank account freezes.

Bitcoin, however, remains unregulated spil the governor of the Reserve Bankgebouw of Australia stated ter an vraaggesprek that “There would be nothing to zekering people te this country determining to transact ter some other currency te a shop if they dreamed to. There’s no law against that, so wij do have contesting currencies.” Australia classifies bitcoin spil property and therefore purchases made with bitcoin spil barter, according to Wikipedia.

The Australian Securities Exchange (ASX) is presently testing distributed ledger technology, ter relation to which former JP Morgan executive Blythe Masters said Australia could see “the very first successful blockchain project ter the world.” Moreover, the Australia Postbode will also consider using distributed ledger technology to store digital identities te an effort to improve service and switch sides falling revenue.

The country is huis to many exchanges and LocalBitcoins volume has bot rising steadily.

What other Top Ten lists would you like to see? Let us know te the comments section below!

Pics courtesy of coin.dance, seoulsuburban.com

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Pools

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