Cryptocurrencies are revolutionizing the landscape of investments and digital assets, and driving economic growth in many regions. Recognizing this potential, many countries have adjusted their regulatory frameworks and introduced a series of legal measures to actively attract crypto businesses and startups to settle down. In 2024, crypto-friendly countries are emerging rapidly around the world, and some countries stand out for their positive attitude in promoting the development of crypto enterprises.
Research from SocialCapitalMarkets found that countries like Switzerland and Singapore have long been recognized as the friendliest crypto business environments, while countries such as Estonia, Malta and the United Arab Emirates have also made significant progress in this area. After in-depth analysis of the regulatory policies, tax frameworks and business environments of these countries, they selected the ten most promising countries in the world for the future development of crypto businesses.
Overview of national composite scores:
Dubai (Score: 79): Dubai is a top destination for crypto businesses with leading regulatory clarity, zero capital gains tax, 9% corporate tax, and low business license fees.
Switzerland (Score: 74.5): Switzerland ranks second with 900 registered crypto companies and a capital gains tax of only 7.8% for long-term investments, which is extremely favorable to investors.
South Korea (Score: 73.5): South Korea ranks third and plays an important role in the global crypto space.
Singapore (Score: 72): Singapore ranked fourth, with the government providing $8.9 million in blockchain support funds, providing strong support for crypto companies.
Brazil (Score: 66.5): Brazil ranks tenth, 12.5 points behind Dubai, but still maintains a strong presence in the global crypto ecosystem.
Germany (Score: 66.5): Germany scored the same as Brazil and offers similar policy conditions for crypto businesses.
United States (Score: 71): The United States leads the way in crypto adoption, with 5,968 businesses accepting cryptocurrency payments, scoring a perfect score (20/20) in this category.
Portugal (Score: 51.5): Portugal has 108 businesses that accept cryptocurrencies and has a high short-term capital gains tax of 28%, but offers relatively favorable conditions for long-term investors.
Malta (Score: 59.5): Malta has a high corporate tax rate of 35%, but its regulatory framework is friendly and 15 authorized crypto companies already operate there.
From the performance of these countries, we can see that government support in terms of policies, tax incentives and regulatory transparency has played a vital role in attracting crypto companies. Dubai, Switzerland, Singapore and other places have attracted many blockchain and crypto companies due to their clear policies and favorable tax conditions. Countries with large-scale markets such as South Korea and the United States have made remarkable achievements in adopting and promoting the practical application of cryptocurrencies.
Faced with the rapid development of cryptocurrencies around the world, the attitudes and policies of governments have become key factors. Whether or not these countries can formulate laws and regulations that are conducive to the development of blockchain technology and crypto businesses will determine whether they can occupy a place in the future digital economy. In the future, the rise and fall of crypto companies in these countries will provide valuable experience and demonstrations for other countries around the world. In summary, in 2024, Dubai will take the lead in the list of crypto-friendly countries, followed by Switzerland, Singapore and other places, and continue to attract the world's most dynamic crypto entrepreneurs and companies. In this global digital asset competition, whoever can formulate more open and inclusive policies will be able to take the lead in the future digital economy.
Top 10 Cryptocurrency Business Friendly Countries
Dubai
Switzerland
South Korea
Singapore
USA
Estonia
Italy
Russia
Germany
Brazil
