With their decentralized nature and propensity to be operated by wrongdoers, Bitcoin now has to keep governments and regulators as a factor. Many nations perceived the idea of cryptocurrencies from a negative side. However, some countries have welcomed the exciting possibilities with it.
Malta has demonstrated itself as the ‘Blockchain hub’ of Europe and provided that blockchain and cryptocurrencies go hand in hand quite often, it has initiated favorable regulations for the crypto industry. Speaking of regulatory goals, Malta is targeting three aspects; consumer protection, industry protection, & market integrity.
To add up, it is clearly initiating a ‘technology first’ approach to the crypto industry. Silvio Schembri, Malta’s Junior Minister for Financial Services, Digital Economy & Innovation stated that they are not looking for short term benefits but rather at the evolution of blockchain and DLT technology in the long term.
Another example would be Switzerland. Some of the big-shot crypto based firms like Tezos, Cardano, Ethereum Foundation, BitFinex & ShapeShift build shops in the country.
There’s another country on this list, and that is none other than Germany. This European country has a thriving and dynamic community of crypto enthusiasts. There, crypto trading is totally legal and the enthusiasm in the sector drove key players like Bourse Stuttgart, the second largest stock exchange of the nation, to be interested in crypto. The number of crypto startups in Germany is huge.