A year ago, most countries simply ignore the existence of Bitcoin and other cryptocurrency. But in mid-2017 by "Buy Bitcoins" requests Google went on millions, and the capitalization of digital cash exceeded the cost of many well-known brands, and to not notice about cryptocurrency became difficult.
Therefore, from July to November 2017, the largest country in the world have made statements in which the face of the planet announced their relationship to cryptocurrencies and ICOs.
As it turned out, most of the world announced a positive attitude towards cryptocurrencies. But no uniform regulations, as there is no universally accepted definition of digital money and their legal status. Today, each of the countries where cryptocurrency not prohibited, addresses this issue in its own way.
Japan
Land of the rising sun first and only recognized the Bitcoin full tender. They developed ATMs network and have the ability to pay for various services with Bitcoins. Today in Japan, accept Bitcoin network of electronics stores Bic Camera, Marui department stores and a number of hotels - for example, Comics & Capsule Hotel Comicap.
According to the publication Nikkei projected 2020 turnover of Bitcoin and other cryptocurrency in Japan will reach trillions of yen. However, the head of the Department of payment and settlement systems, the Bank of Japan Hiromi Yamaoka believes that in the near future in Japan Bitcoins not supersede Fiat, because "it too would change the banking system."
Malta
The Government of the Republic strongly supports cryptocurrency. Prime Minister Joseph Muscat is known for his statement made at the CEPS Ideas Lab Forum in Brussels: "Europe can become a Bitcoin-continent, and Malta - it is Silicon Valley ". Now Malta developing holistic blockchain strategy that will affect cryptocurrency; the first version of the document was submitted for consideration and approved in April 2017. The country also plans to legalize gambling cryptocurrency.
Slovenia
Slovenia is ready to compete For the title of "Europe's Silicon Valley". The country participates in European blockchain and cryptocurrency projects and also develops its own strategy. Today, Slovenia has the legal status for Bitcoin.
Slovenia - the country with the strongest civil support of Bitcoin in the world: it operates a public organization Bitcoin Association, headed crypto enthusiast Jur Pirk. The Company aims to popularize and promote Bitcoin crypto initiatives at the state level.
Cyprus
Island in the Mediterranean Sea, famous for its spas, also enthusiastically accepted cryptocurrency. It happened back in 2013, when the debt crisis happened: Bitcoin in Cyprus became an alternative to bank deposits. Therefore, the digital gold in the country is in high demand. There are numerous crypto traders and blockchain start-ups, and existing projects to pay for various services.
The legal basis for cryptocurrencies in Cyprus is in development. In particular, the directive has been published recently for companies that sell stock exchange assets using cryptocurrency.
Switzerland
Switzerland, which is proud of its well-functioning financial system and robust banks, making bold steps towards cryptocurrencies. So, one of the Swiss banks, Falcon Private Bank, the world's first started offering the entire range of financial services in cryptocurrency. A Swiss city of Zug has received the glory of Crypto Silicon Valley: its liberal legislation for blockchain attracts many companies.
In Zug cryptocurrencies are commonly used as a means of payment due to the application developed by Bitcoin Suisse AG; it can be used even to pay utility bills. There is also a system for citizens verification through blockchain. Also, there is Crypto Valley Association - an organization to support and promote blockchain startups.
At the same time in Switzerland as long as there is no common legislation against Bitcoin, so every canton (county) decides its own way.
Conclusion:
So, the most blockchain-friendly country in Europe - with the exception of Japan, which, as always, chose his own path. It is therefore right that Europe really soon become the center of blockchain industry, and one of that countries will be a hub of new technologies. In the near future we are waiting for countries will publish their crypto strategy and publish the laws about Blockchain technology.
Crypto market young and not properly regulated, today investors need to take special care to protect themselves from high risks. However, in general crypto industry is growing, there are services and tools for market regulation and protection from fraud. For example, prepared to launch the Safinus platform which implements mechanisms to protect novice investors and increase profits for experienced traders and crypto funds.
Step by step blockchain ecosystem will create the immune system against unscrupulous community members. Will not only improve the market, but also flow of investments will be distributed in favor of really useful projects for blockchain, and investors will be able to earn more and more secure and profit.
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