Best countries to start a cryptocurrency exchange platform in 2020
In this post we are going to tell you about the crypto friendly countries to start a cryptocurrency exchange platform. Our research is completely dependent upon the Government taxation policy, regulatory frameworks, and the adoption of crypto among users. You have to do your own part of analysis before considering these countries as a location for your crypto exchange operations.
Crypto Friendly countries in 2020:
- United States
- South Korea
Malta is the most recommended country for anyone who wants to get into the world of crypto. The usage of cryptocurrency in this country is outperforming all the countries out there. The government, banks are also welcoming the blockchain & crypto in a very liberal manner. More startups, corporations, and organizations in the crypto industry are marching towards the country for expanding their operations globally. Last year, the biggest crypto exchange Binance had relocated to this country. It makes the way for more investments to be happening in the country in future.
According to the trading data volume, the United states top the list. This shows that most of the crypto traders are residing in the US and they possibly invested in crypto in large numbers. The country is hosting over 30% of the bitcoin nodes which is followed by Germany in the second place. The US government has been on the mixed state towards the cryptocurrency since 2013, then it proposed some positive signs on the development of cryptocurrency. It stated bitcoins not as the legal currency but can be used as a money value business and it can be approved as the property. The US millennials are very fond of this currency and continue to invest in various formats of business.
Japan is the biggest center for trading and exchanging bitcoins, cryptocurrencies all over the world. It seems even local retailers have started to accept bitcoins as their payment options. The government is giving the reliable concern for the crypto and it made the change in payment services act in favour of these currencies. It mainly focuses on people’s security so it had officially regulated 30+ crypto exchanges and 200+ companies had already registered for a license to operate bitcoin/cryptocurrency exchanges.
Switzerland is generally called “Crypto valley” and this country has been the home for many blockchain, crypto startups. Considering the usage and government policy, the bitcoin or cryptocurrency is claimed to be the taxable income for any individuals in the country. There are some certain regulations over there who trade and exchange bitcoins professionally. Major banks in swizz, are stating their opinions in favor of cryptocurrency and it seems to be the green signal for welcoming the investors all over the world.
South Korea has been the responsible country for blockchain and its related digital currencies. The residents in the country are well aware about this technology and they normally visit 100+ crypto exchanges every month. Regarding the government stance, there are many regulations, registrations, recordings that have been happening inside the country. Upto six regulations were proposed in the assembly last year which is definitely good news for crypto users there.The crypto traders in the country are exponentially increasing from 2017.
Estonia is one of the finest countries in Europe which indirectly favours and regulates the cryptocurrencies. As far now, cryptocurrencies are not legal tender but obtained as a value in digital form and tax is applicable excluding VAT. However, crypto exchanges operating in the country should get mandatory license and should follow regulatory frameworks proposed by the Government. Recently, the government issued over 900 licenses to the cryptocurrency exchanges and crypto wallet business services. It clearly indicates that the country is examining ways to boost the currency in future.
Are you ready to disrupt?
So, are you the startup, individual, or entrepreneurs who wished to disrupt the crypto industry? There are endless possibilities to start a crypto exchange firm in these countries. In fact, we have helped some of the major startups to kick start their blockchain firms successfully.
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