Let’s talk about 5 European countries that allow cryptocurrency investment on the best terms. This article will surely come in handy for cryptocurrency investors that are planning to start a crypto exchange in the EU.
Malta
In 2018 the authorities in the Republic of Malta passed the Law on DI Registration and the MDI Act. Moreover, local lawmakers also processed the VF and ITS Acts during the same year.
It means that individuals who are interested in launching a cryptocurrency business in Malta have an opportunity to fulfill their intentions according to the legal basis. Additionally, Malta has the advantage of offering a low corporate tax and participating in the EEA.
Liechtenstein
Traditionally, Liechtenstein has become known for being an environment friendly to investors and desired for its low tax rates. For crypto investors especially, banks in Liechtenstein are interesting for offering an opportunity to store funds in cryptocurrencies. Moreover, banks provide investors with advice about ICOs in Liechtenstein. Besides other means, the government of Liechtenstein works on promoting foreign investment through attracting crypto asset companies.
Switzerland
Zug is a German-speaking canton in the middle of Switzerland. This place is both known for low tax rates and for being a host of the first “crypto valley” in Europe. These are the facts intensively attracting cryptocurrency investors who decide to start a blockchain startup there. Investors operating with crypto assets are also motivated by the fact that the Swiss government is taking a proactive approach towards regular updates of the local cryptocurrency legislation.
By the way, investors also appreciate that cryptocurrencies are regarded as foreign currencies in Switzerland and, therefore, do not fall under tax on capital gains. And, last by not least, Switzerland has the first private bank that provides its clients with cryptocurrency management services.
Georgia
Although Georgia’s market of cryptocurrencies is still very unregulated, the local government has a mainly positive view on blockchain technology. Georgia has several free industrial zones (FIZs) where businesses can operate with tax benefits. FIZs allow businesses to pay reduced electricity rates that are subsidizing.
All the above qualities make mining cryptocurrencies in Georgia favorable and attractive.
Estonia
The promotion of cryptocurrencies has been strongly supported by the Estonian government. Furthermore, crypto investors are able to process payments and provide banking services remotely – Estonia is the first country to allow this by offering e-Residency.
Do you still need more details on cryptocurrency regulation in the EU? For further information get in touch with our experts in COREDO. We will be happy to assist and reply to all your questions regarding a crypto exchange.