Choosing a jurisdiction to register an exchanger or Bitcoin exchange is an urgent issue for those who launch a project in the fintech segment.
It is worth paying attention to blockchain technology and smart contracts.
And if you want to avoid problems with taxation and have the most favorable legislative and business climate, you should also pay attention to the following countries, in whose jurisdiction many opportunities have been created for the world of cryptotechnologies.
Among all existing jurisdictions, the most loyal to the cryptocurrency market are: USA, UK, Estonia, Netherlands.
If we look at modern statistics, then in the first place among the jurisdictions that register companies in the field of cryptocurrencies by the number of users and registration of Bitcoin in the world, is the United States.
And this is not surprising, since Silicon Valley is the founding place for most of the cryptocurrencies that operate on the basis of blockchain technology.
A large percentage of countries turn to the USA for the legal regulation of blockchain technologies and the cryptocurrency market. Losses and profits from the cryptocurrency market are an object of taxation aimed at capital growth.
The British public has shown great interest in digital currencies. Britain is also home to some of the world’s most popular bitcoin products and services.
Despite this, the UK government and regulators are surprisingly quietly discussing the issue of digital currencies and practically do not recognize the development and implementation of cryptotechnologies.
There are three areas of regulation that should be considered when studying this issue: consumer protection, prevention of money laundering and taxation. Foreign regulations also have implications for those who work in the UK.
Estonia is the first EU jurisdiction to legitimize the work of the crypto sector and to legally organize and conduct ICOs based on blockchain technologies. Among the advantages:
The Netherlands is an “advanced” state in matters of cryptocurrency. In the Dutch city of Arnhem, an experiment with bitcoins is being conducted – you can pay for utility, dental and other services with electronic currency.
According to the fiscal rules of the Netherlands, cryptocurrencies fall under the taxation program.
The banking sector of the Netherlands positions blockchain as a promising area for improving financial technology. Dutch authorities organize cryptocurrency conferences. And 20% of the population keep their savings in non-financial funds.
With all the “friendliness” to cryptocurrency and blockchain, the cryptocurrency turnover is not regulated at the legislative level. And the country notes the requirements for customer accounts and data protection are more stringent.
It is also worth noting 6 more popular jurisdictions: Australia, Finland, South Korea, Canada, Sweden, Denmark.
Our company is based on experience with this sphere and Eternity Law International specialists will be happy to рrovide you with assistance in resolving this issue.
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