Crypto-friendly banking continues to revolutionize the world of digital currency. More and more countries are beginning to realize the potential of crypto and opting to shape their policies in favor of digital currency. These elite group countries are commonly referred to as crypto-friendly countries and present an opportunity for aspiring futuristic business to thrive.
The decentralizing approach of crypto does stand as a threat to some countries. Such countries aim to limit crypto-adoption through anti-crypto legislation and government policies. Following is a list of top 6 countries with the most crypto-friendly banks.
1. Malta
The Maltese government policies publicly appreciate the potential of digital currency and widely promote crypto. The country takes pride in being the first state to establish a decentralized bank and stock exchange. Banks in Malta are a bit more crypto-friendly, and the policies of the state promote aspiring entrepreneurs to invest in the form of digital currency. Recently, the largest crypto exchange in the world moved to Malta solely because of the country’s crypto-friendly banking policies.
2. Liechtenstein
Liechtenstein is only the second country which had officially legalized the cryptocurrency status to date. The crypto-friendly laws & policies of the state widely support businesses growing digitally. Crypto-friendly banking is a rising trend in Liechtenstein, which continues to evolve with time. The state had also lowered crypto taxes and implemented crypto-friendly regulations to attract local & international businesses.
3. Japan
Recently, the retail stores & local businesses in Japan had started functioning through digital currency. Being the biggest trader of bitcoin in the world, Japan had also established digital currency as the legal tender of the country. Many aspiring businesses & banks are set up in the country which functions seamlessly with the aid of crypto-friendly banking approaches of Japan.
4. Switzerland
Commonly referred to as the crypto valley, Switzerland is home to many businesses promoting the idea of cryptocurrency. The crypto-friendly state is home to many banks which follow the principles of crypto-friendly banking. The city of Zug is the capital of the crypto valley where bitcoin is a legal tender for local tax payments. The city borders the crypto-friendly state of Liechtenstein, which is a breeding ground for many thriving blockchain businesses.
5. Gibraltar
Gibraltar has set its eyes on becoming the largest Mediterranean blockchain region, and the state continues to build crypto-friendly laws to promote the era of digital currencies. Many innovative businesses and tech platforms like Lendo are moving to Gibraltar to flourish under the country’s crypto-friendly banking laws.
6. Estonia
Estonia continues to support technology-based aspiring businesses which have concreted their plans for building up the digital currency market in the region. The Estonian government crypto-friendly laws and policies continue to attract businesses, and banks from all across the world.