Topic: Best country whose banks are most friendly for crypto? (Read 216 times)

That bank has a really "good" reputation, especially if you need to "launder" a large amount of money.

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OP, my advice is to go to Switzerland, if you have proof that you bought BTC in a legal way and you want to sell it, there is hardly a safer place where you can keep your money than a Swiss bank. Although the only safer place would be to store your BTC in a non-custodial wallet and spend it as needed.

The one in the list is what I am thinking of right now because of their vat-free for crypto transactions - UAE.
Hongkong is also a good one IMO, they're trying to be crypto friendly.
Hong Kong regulators are urging banks to provide services to virtual asset companies as the city pushes to establish itself as a hub of the crypto industry.

I tried Danish Bank a couple of years ago. It's ok. Been customer all my life.

I don't know where you got this list from and how you ranked them, however if you have millions in crypto that you want to convert to fiat, you have to talk to your bank in your country. Since we are talking about a large sum of money here, they are likely to ask you for the source of funds, and if you got it through legal means, you should have no problems.

## 4. Singapore
- **DBS**: Crypto-friendly. DBS has launched its own cryptocurrency exchange (DBS Digital Exchange) and offers crypto custody and trading services.

Really good, but their KYC is very laborious and time consuming. But once in, all good.

Hong Kong and Singapore are both excellent for this purpose also.

Ukraine has gained a reputation as a favorable environment for cryptocurrency for several reasons:

• Progressive Legislation: Ukraine has been working on regulations to support the crypto industry, including legal frameworks for cryptocurrency exchanges and initial coin offerings (ICOs).
• Strong Tech Talent: The country has a robust IT sector with a large pool of skilled developers, making it an attractive location for blockchain projects and startups.
• High Adoption Rates: A significant percentage of the population is involved in cryptocurrency trading and usage, reflecting a high level of interest and adoption.
• Community Support: There is a vibrant community of crypto enthusiasts, developers, and investors in Ukraine, fostering innovation and collaboration.
• Cost of Living: Lower living costs can attract startups and projects looking to operate in a more cost-effective environment.
• Geopolitical Factors: The ongoing conflict has led to increased reliance on cryptocurrencies for financial transactions and remittances, as they provide an alternative to traditional banking systems.

These factors make Ukraine an attractive location for crypto-related activities and investments.

If you look at the countries and banks that you mentioned, legally and the laws that have been established are indeed friendly towards crypto, they fully support the development of Bitcoin in the future.

However, we have often seen information about countries and banks that are crypto friendly, you only mentioned 9 countries and banks, maybe I can add other information about countries and banks that are crypto friendly, so there are 7 other countries and banks that are most crypto friendly. into 16 countries and banks.

* The 16 Most Crypto-Friendly Countries in 2024
* What Banks Are Crypto Friendly? A Comparison Guide

Hope it can also be a reference for the future.

Do you have a reference from where these data is gathered? I don't see the list is correct.

El Salvador is the only country that has legalised bitcoin. How come none of they are banks has made an appearance to your list!

Also Dubai and Singapore are known for their friendly policies towards businesses. So it's no wonder that there banks are listed here. But would still like to know the reference of the data being presented here.

Suppose I have millions in crypto that I want to convert to fiat and assume I can show proof of source. Which country would have the best banking for my needs? I have heard Dubai, Georgia, and Switzerland are popular options.

For my own future reference:

# Ranking Countries by Crypto Friendliness of Their Banks

## 1. Switzerland
- **SEBA Bank**: Crypto-friendly. SEBA is one of the few regulated banks in Switzerland that specializes in offering services to the digital asset industry.
- **Sygnum**: Crypto-friendly. Sygnum, like SEBA, is a fully regulated bank focused on digital assets and blockchain.

## 2. Estonia
- **LHV Bank**: Crypto-friendly. LHV has been one of the more progressive banks in the region, supporting crypto-related businesses and blockchain projects.

## 3. Liechtenstein
- **Bank Frick**: Crypto-friendly. Bank Frick is one of the few European banks actively offering services to the crypto industry, including custody and trading.

## 4. Singapore
- **DBS**: Crypto-friendly. DBS has launched its own cryptocurrency exchange (DBS Digital Exchange) and offers crypto custody and trading services.

## 5. Luxembourg
- **BGL BNP Paribas**: Case-by-case. While BNP Paribas has explored blockchain, its Luxembourg branch handles crypto cautiously, typically on a case-by-case basis depending on regulation.

## 6. Dubai (UAE)
- **Emirates NBD**: Generally seen as cautious towards crypto. The UAE is developing a regulatory framework for crypto, but traditional banks like Emirates NBD are generally conservative in this space.
- **Mashreq Bank**: Similar to Emirates NBD, Mashreq Bank is cautious and has not actively embraced crypto.

## 7. Portugal
- **Banco Santander Totta**: Generally crypto-cautious. Santander's global stance has been reserved towards crypto, and its branch in Portugal mirrors that.

## 8. Malta
- **Bank of Valletta**: Less crypto-friendly. Despite Malta being known as the "Blockchain Island," some of its traditional banks like Bank of Valletta are reluctant to embrace crypto.

## 9. Georgia
- **TBC Bank**: Less crypto-friendly. The Georgian banking sector is generally cautious when it comes to crypto, and TBC Bank reflects that.
- **Bank of Georgia**: Also considered less crypto-friendly, as Georgian banks tend to have restrictive policies toward crypto transactions.