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Here Are the Countries Using Favorable Crypto Laws to Boost Business Through Bitcoin

As tensions rise in some of the world’s most favored economic leaders- some are looking for a low-key life in crypto. Here’s where to look.

It’s not just bitcoin ears that are pronouncing their new lust for living abroad. It’s safe to say that tensions are incredibly high in global power nations like the US and the UK right about now. With the long-awaited and anxiously anticipated US election just moments away, and Brexit looming in a scant few months- many are discussing their options when it comes to citizenship. While most of these conversations are resolutely tongue-in-cheek, we decided to take a closer look at where this “bitcoin abroad” life could take us should things get too hairy.

One of the many beauties of bitcoin is its ability to function as a borderless, non-politically motivated, decentralized currency. Which for many is a huge bonus in the world today. As newbs flock to exchanges like Bitvavo to help them navigate the choppy waters of novel investments, we take a closer look at where crypto-business could reasonably go to grow.

Japan

Ah, Japan. A small island with heaps of charm and oodles of class, all wrapped up in the zesty packaging of the island that brought you real-life Mario kart racing around the streets of Tokyo. From deli table food culture to reserved and an ultra-respectful ethical backdrop, Japan offers something incredible to just about anyone motivated to learn the language. Particularly those who dabble in crypto. While the country does offer restrictions on digital finance- much of the existing infrastructure is über favorable. Japan has recognized bitcoin as legal tender, but not as a currency. Crypto is not subject to capital gains tax, and most of the legislation regarding crypto is exceptionally friendly for business.

Malta

Malta, often forgotten, but to the complete disadvantage of everyone, this tiny island off the coast of Italy is an amalgamation of some of the most beloved cultures of the world. With beautiful weather, decent political infrastructure, and a business savvy that just won’t quit- Malta has poised itself to be a “blockchain Island”. Making it the go-to destination for anyone looking to live that crypto-life. With former Prime Minister Joseph Muscat proudly embracing blockchain technology at an early stage, created the Digital Innovation Authority Act, marking the nation as one of the front runners in the race to embrace cryptocurrency and the business it brings.

Sweden

Let’s all just have an honest moment together here, shall we? Sweden is fantastic. In nearly every regard. Unless you’re more into the hot climate that is better suited for bikinis and sand in your shorts, there isn’t much that this country doesn’t offer in the way of life’s little comforts. With a strong economy, incredibly stable politics, and one of the top countries ranked by health and happiness- Sweden is pretty mellow. Especially if you love your bitcoin. Outside of their central banking system famously saying “Bitcoin is not money”, the country affects few other restrictions on how crypto enthusiasts can spend their coins or their time. The country also has a big love for digital currency- starting their own digital fiat in 2018. Also- despite a comfortable standard of living and one of the world’s best ran social welfare programs- Sweden has a comparatively low cost of living- so trade in your board shorts for some ski pants and you’re ready for paradise.

Singapore

Singapore has long been a champion of crypto. With favorable legislation dating back to 2017, it’s also one of the only countries in the world that support a zero capital gains tax on cryptocurrencies. Often thought of as a hub of international business, Singapore is also no stranger to that tropical island life. Coupling political stability with lightning fast internet speeds and bejewelled beaches. The country still hesitates to recognize bitcoin and other cryptos as legal tender, but recently put forth a few crypto-friendly initiatives that an exemption to certain bitcoin-based businesses to operate for a six-month grace period without a license. Buyer be warned however, this business savvy country is ultra-aware of it’s worth, and costs of living expenses can rival that of Manhattan.

Australia

You might be noticing a bit of an island trend when it comes to bitcoin business buoyancy. Maybe it’s just that laissez-faire attitude that these tropical destinations inspire, maybe it’s the drive towards a brighter future. Whatever it is, Island life seems to agree with bitcoin in the same way those little umbrellas go with a nice fruity cocktail. Australia- particularly the glamorous coastal city of Brisbane, breaks out amongst the crowd as an ultra-bitcoin friendly destination. Becoming one of the nation’s first cities to introduce crypto-payment platforms in traditional shops in 2018. Brisbane also boasts “Living Room of Satoshi” a bitcoin payment platform that allows users to put forward bitcoin in order to pay standard bills, like utilities and taxes.

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