Which countries are accepting and embracing cryptocurrency?
Today the cryptocurrency industry faces some pretty serious regulatory issues. Fundamentally cryptocurrency is supposed to have decentralized power and authority, so the model from the floor up is going to take some work in order for global adoption to take place. Regulations to protect the consumer/user is warranted, but it gets messy when we start talking taxes.
Smaller Countries Are Embracing
Some countries that have made recent news and deserve the spotlight are Malta, Bermuda, Liechtenstein, and Gibraltar. Not only are they working towards a light and respectable regulatory framework, they already have some pretty awesome legislation set in place for cryptocurrency. Bermuda this year in 2018 passed a law that allows new start-up companies to apply for approval on their initial coin offerings quickly. On July 4th, 2018, Malta passed three laws to help companies create and issue new cryptocurrencies, and give them the green-light on trading their current cryptos.
We believe that in order for cryptocurrency to thrive and have a stable economy, adoption needs to come easily. Their can’t be countries deciding to look the other way simply because of the scams and loss of money they have seen, because with that is an exponential amount of new tech and profits being made. Bitcoin sparked a revolution, now it is time to keep the ball rolling.