As the latest Bitcoin’s bull run moves with a full-throttle, we are seeing more and more companies joining the Cryptocurrency market. There have been countries that were not really fond of the whole Cryptocurrency concept from the beginning. However, seeing its performance in 2020, they have changed their stance.
Today, almost every country is looking to launch the CBDC. These currencies will be a form of Cryptocurrencies controlled by the respective central banks of the nations.
2020 has been a year controlled by the Pandemic. During this year, many industries crumpled down to the ground. At the same time, many industries took this chance to flourish. The industry that has used the pandemic period most is the Cryptocurrency industry.
This chain of events removed the curtain from government eyes and made them believe in Cryptocurrencies’ future potential. It is worth noting that the government and policymakers have taken the Cryptocurrency and Blockchain technologies into account for 2021.
Today, there are several countries that want to lead the Cryptocurrency movement – not for the sake of leading the industry but to boost their own economy.
Friendliest Countries for Crypto In 2020
If we see the Cryptocurrency market, we see only a few countries remain the center of attention. This article will highlight which countries are actually leading the Cryptocurrency market.
Who would have thought that Singapore would be on the list? Over the last couple of years, Singapore has fortified itself as one of the biggest Blockchain enterprises in the Asian Pacific regions.
Singapore caters to clear-cut rules and regulations related to Cryptocurrencies. The regulation of Cryptocurrencies in Singapore has allowed Crypto businesses to flourish. This is why you will find several services accepting payment in Cryptocurrencies.
Switzerland is famous for its Crypto Valle City Zug. Zug is one of the top Cryptocurrency adopted cities. It is certainly living up to its moniker by providing every facility in the form of Cryptocurrencies.
The city is a home of 120,000 people enjoying a tax haven in Cryptocurrencies. Zug is a technological hub that specializes in producing electrical equipment and medical developments.
Zug is home to a Crypto valley association that has played a pivotal role in regulating Cryptocurrency all over Switzerland.
Japan has always been a supporter of the Crypto trade market. In fact, it is believed that the first successful rally of Bitcoin was due to Japan’s largest Crypto exchange platform, Mt. Gox, regular intervention with the Bitcoin trade.
This event sparked Japan’s financial services agency to develop the regulation to provide security and stability for the traders. In Japan, crypto transactions are legal; however, Crypto assets are not.
4. United States
The USA was not on the list for the Cryptocurrency regulation, but its fiat currency role in promoting Cryptocurrencies. In 2019, the IRS announced that Bitcoin and Ethereum are commodities and regulated accordingly.
Now that the USA government has made it clear about Cryptocurrency, it has been actively traded in the market. You can know more about this on TrustPedia Trading robot software reviews.
5. South Korea
South Korea is yet another Asian nation that has created a Cryptocurrency thriving community. The appetite of the South Koreans has led the nation to create Kimchi Premium. However, this soon waned when South Korea began imposing strict rules and regulations over Cryptocurrency transactions.
In March 2020, the national assembly passed new legislation and finalized the rule and regulation over the Cryptocurrency exchange. The new law has been implemented, but the government has allowed the business to take six months to stipulate their businesses.
With the healthy Crypto trading environment and Countries backing their authenticity, it is clear that 2021 will be a great year for Crypto traders. The list concludes with only the top countries. With that being said, do let us know from what country you belong to and how your country deals with Crypto assets.
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