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The purpose of this report is to highlight the European countries that impose friendly regulations on сгурtоcuггencies and blockchain related projects.
The source for this report includes data on a combined list of 48 countries and dependencies or other territories according to the United Nations.
The political, regulatory and business environment for each country and territory has been assessed using the following criteria:
Regulation of lСОs: 0 to 10;
Regulation of сгурtоcurrencies as a means of payment: 0 to 10;
Taxation regime, including general taxation as well as specific taxes on сгурtоcuггency as a mean of payment (VAT), capital gain, etc: 0 to 10;
Where “0” corresponds to the most negative environment and “10” to the most positive. The final rating for the country or territory is derived by the sum of these sub-ratings and the report provides highlights for the top ten domiciles.
Apart from currently existing regulations the report takes into account recent news and developments, as although some countries do not regulate сгурtоcuггencies, they have plans to implement them in the near future which creates additional risks. Also, while some countries (do not) regulate the industry on the same level, they might have self-regulated organizations comprised of the largest companies that promote positive outcomes.
1. Switzerland
1. Switzerland
Rating: 26
Famous projects: ЕТНЕRЕUM Foundation, Tezos, Dfinity, Bancor, ShapeShift, etc.
Switzerland has become the central hub for сгурtоcurrency-related projects from all around the world, thanks to the positive regulatory dynamics imposed by the Canton of Zug. Zug, located in central Switzerland, is home to the “Crypto Valley” project, an independent, government-supported association that is aiming to create a “world leading blockchain and сгурtоgraphic technologies ecosystem.” It has become a home to multiple projects and fund entities, including Ethereum Foundation, Tezos, Dfinity, Bancor, ShapeShift, and many others.
Blockchain-based projects can innovate in a secure legal environment because of Switzerland’s stable, predictable and decentralized political system. They also offer low taxes and business-friendly regulations. Costs up to CHF 200 charged by the city’s authorities, such as the city administration office, may be paid with bitcoins.
The Swiss Financial Market Supervisory Authority (FINMA) has also announced guidelines intended to assist local startups in launching lСОs in a manner that is compliant with Swiss law. In January 2018, Swiss Economics Minister Johann Schneider-Ammann outlined his vision for a new blockchain-focused Switzerland that would adopt the liberal perspective held by the Swiss municipality of Zug on a country-wide basis. Switzerland is home to world-class research institutes including the Swiss Federal Institute of Technology (ETH Zurich) and the Ecole Polytechnique Federale de Lausanne (EPFL), which is in the top 20 QS rankings.
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