While some countries consider cryptocurrency a threat to their economy, many others are loyal to blockchain and crypto community contributing a lot to their integration into economy and adopting them in the public sector. We’ve prepared a short but demonstrative review for you to show the initiatives and innovations of the latter.
This country’s government has introduced a bill to regulate cryptocurrency. Cryptocurrency is one of the possible payment method here. Its government has also released a policy which entry into force will make cryptocurrencies easily available to everyone who is interested. This is about Australia, that moreover is not going to introduce any normative regulation of cryptocurrencies, as Head of the Reserve Bank of Australia said, for there are no evident issues concerning their circulation and therefore there’s no need to resolve any.
So called Europe’s last dictator, irreplaceable leader of next crypto-friendly country has recently signed the Decree on the Development of Digital Economy including several liberalization steps in high technologies business. Here are its key points. Prolongation of the term of the special legal regime of the High-Tech Park and addition of blockchain-based and other activities of resident companies. Retention of the current privileges for resident companies, including elimination of the profits tax, abatement of the value added tax for foreign companies providing marketing, consulting and other services to the High-Tech Park companies. Simplification of the procedure of issuing a work permit allowing to facilitate the recruiting process of highly skilled experts from overseas. These and several other measures are implemented in Belarus, probably the most crypto loyal country among the Post-Soviet states.
This young progressive Southeast Asian country has already shown its non-typical and creative decisions to the world that led it to prosperity and the right to be called an economic miracle. In Singapore the cryptocurrency has an official status of a financial asset and cryptocurrency transactions are charged with the value added tax. The Monetary Authority of Singapore (MAS) being the Central Bank of Singapore, is one of the first in the world working with blockchain technology. Also according to the MAS there are about 50 startups working on blockchain-based technologies today. Blockchain and cryptocurrency became a subject taught in universities and a reason to explore use cases in large business.
Here are just a few countries being loyal to cryptocurrency and blockchain. Every day the list is added with newcomers therefore making business and public sector adopt them.