The greatest advantage of Cryptocurrencies is that it is accepted internationally and most of the countries around the world are bitcoin friendly. By adopting and encouraging cryptocurrencies, these nations place themselves at the top in financial innovation.
If you are seeking to set up a cryptocurrency based business, several crypto friendly nations will be effective other than those rare nations that discourage cryptocurrencies.
List of few crypto friendly countries around the world :
1. Australia - Australia considers cryptocurrencies like any other currency using there and allows to trade, buy and mine bitcoins.
2. Nigeria - The committee set up by the central bank of Nigeria has worked for the country to adopt bitcoins and other digital currencies driving blockchain technology.
3. Venezuela - In January 2018, the superintendent of government’s cryptocurrency said that the bitcoin activity is perfectly legal.
4. Hongkong - In November 2016, the chief executive of Hongkong Monetary Authority said that the bitcoin is only a virtual commodity and allows the usage of bitcoins locally as well as in overseas.
5. Singapore - In January 2014, the revenue authorities permits the adoption of cryptocurrency and created guidelines for the business that deals with bitcoin currency exchanges.
6. Vietnam - There are no restrictions to hold and trade bitcoins in Vietnam which is still unregulated by law.
7. Malta - This country promotes bitcoin and blockchain technology without any laws or regulations.
However, the potential value of cryptocurrencies are kept on increasing and many other countries are still trying to make as a legal. Apart from the above countries, there were several other countries too. To know more about those countries where bitcoin is legal, read this blog--> https://www.cryptoexchangescript.com/in-which-countries-bitcoin-is-legal