Blockchain/Bitcoin

Switzerland is the Best European Country For Blockchain Startups

by Company Announcement May 17, 2018

Blockchain conference, BlockShow Europe 2018 has released a study identifying the top 10 European countries for starting a blockchain company.

Switzerland is number one on the list, due to its positive regulatory dynamics and forward-thinking position on setting government guidelines for crypto startups.

The country has been a hotbed for crypto innovation as home to Zug’s “Crypto Valley.” Gibraltar and Malta round out the top three due to similar dynamics and government participation.

Gibraltar is another frequent domicile for multiple blockchain-related projects. The Gibraltar Financial Services Commission proposed a regulatory framework earlier this year that regulates the activities of companies that use distributed ledgers for virtual currency exchanges.

At a time when countries around the world are expressing ambivalence about сгурtоcurrencies, if not cracking down on them, Malta is writing rules that should give exchange owners and users certainty about the future. The rules will cover how brokerages, exchanges, asset managers and traders operate, making them among the broadest set of regulations for the industry. “The proposed framework will offer legal certainty in a space that is currently unregulated,” the government said in a consultation paper.

The study looked at 48 European countries in total, analyzing different aspects to determine which of them promoted blockchain and cryptocurrency advocacy, while also looking at actual regulations set in place for the growing blockchain sector. The official criteria used examines Initial Coin Offering (ICO) regulations, regulations on cryptocurrency as a form of payment, as well as the taxation of cryptocurrencies.

Not far behind on the list is the United Kingdom at number 4, Denmark at number 5 (with 0% tax on cryptocurrencies), Germany at number 6 and Portugal at number 6 (where income from crypto is not taxed). Finally, Finland (where virtual currencies are exempt from VAT), the Netherlands and Belarus (where cryptocurrencies are tax exempt through the year 2023, and smart contracts have been declared as legal documents) round out the top 10.

Learn more and register for BlockShow Europe 2018 here! Moreover, don’t forget to save 30% off from your ticket purchase and get the most profitable deal right now with the code: 30FINTECHNEWS

See you in Berlin!

Featured image via Pexels