Topic: Country rankings in "Bitcoin friendliness" - page 2. (Read 323 times)

I don't know if there is such a list, but they are working to tax bitcoin in the country I live in now. They will probably deduct taxes from the money you throw in the stock market through banks. This tax will be directly proportional to the size of the money you will transfer. The news that is spoken now is like this, but I hope it is not true.

If bitcoin is not banned in a country, their approach to bitcoin is similar. They are looking for ways to ask additional taxes from those who invest only with bitcoin.

If there is a sequence or list, I'm sure it varies a lot. Because as a result of negative news, their attitude towards Bitcoin changes immediately. That's why I never looked at the rankings.

European countries aren’t as lax as you think. Most of them actually have pretty strict laws, it’s just that very few truly follow them. It’s getting quite hard to be anonymous here in Europe too and all governments are trying to come after us. After all, they even publicly said they’re not the best friends to crypto land, calling out BTC for its “illegal usage” especially in recent years..

The term "friendly" and "legal" are much different, though being used synonymously here because of the common people's approach.

Asian countries have been opposing crypto for much time now. Comparatively Americana and European countries have been lax. I think the wikipedia article on bitcoin legality gives the best idea till date, but we are lacking in country-specific data from the crypto communities in those countries. Also the number of Bitcoin ATMs in a country show the West>East government-acceptance of crypto to be much higher.

Maybe OP could run a survey on the different local boards in this forum to gather this data and publish it.

You cannot get a comparative list except from users that have experienced Bitcoin in different countries. I can tell you from the point of view of a Nigerian as well as some other African countries.
You will need to collect the experiences of forum users from Asia, Europe, America (North and South) and then draw a comparison on which is more friendly than the other.

The list may not be too comprehensive but can give a general idea of which is best. A good questionnaire will also help shape the answers.

The problem is probably your wording OP, if you don't specify what you look for, search engines will try to get close to what you mean without giving what you're looking for, I don't know your parameters about what constitutes a bitcoin friendly country but I found one that might help you, you've mentioned Germany which is already on the list but there are some you might be interested in.

https://www.tryspeed.com/blog/top-12-crypto-tax-free-countries-2023/

Bitcoin is built not to be used in friendly countries because governments will not always be friendly with citizens. They want to control everything so you can call something like friendly under their laws and regulations, do you want such?

Use Bitcoin be free from governments, you can do it with Bitcoin, Bitcoin decentralized exchanges, no KYC.

https://kycnot.me/

Is this list accurate and up-to-date?

Because last time I checked, the Netherlands and Canada aren't too crypto-friendly. They still have excessive regulations...
Similarly, Luxembourg taxes cryptos enormously, ranging from 0 to over 50% depending on the conditions (0 being for donations and gifts in crypto).

I have some doubts about the quality of this list personally.

However, Malta, Slovenia, Portugal, Germany and Croatia are excellent countries for Europeans when it comes to crypto taxation. Bulgaria and Estonia also benefit from pretty low taxes. France should be avoided, as should Italy and Austria, for example.

Outside Europe, Singapore is a good country when it comes to crypto tax, Malaysia too, the Cayman Islands, (Puerto Rico has a special status too which is very interesting), and Georgia is top of the top.

As for crypto-friendly usage and culture, because I think OP is not just talking about taxes, it's still harder to come up with a list of countries, things change quickly, and most countries are on an equal footing in this respect.

If you’re planning something over the next few years, I’d stay away from the EU. The EU is clearly showing a stance against what BTC stands for and I think things are only gonna get worse soon. It’s also very important to research what these countries you’re looking into are planning to introduce in their law - they may be friendly countries that are planning stricter crypto laws than other countries are.

Tbh, that’d be a big lie. America is on my personal list somewhere at the bottom of friendliness. Mandatory KYC everywhere, tax forms are a huge pain, no ATMs where you can buy without ID.. it’s really bad.

I speculate that America will be in the Forbes list of top 10 most friendly countries for bitcoin while Blackrock is applying for their spot ETF hehehehe.

Read this article. After years of fud and years of publishing false news that clearly implies that bitcoin mining is destroying the environment, Forbes has become instantly more supportive. Head scratching update from Forbes hehe.



Bitcoin, often criticized for its energy consumption, actually uses less energy than many traditional industries. With an annual consumption of 129.45 TWh, it accounts for only 0.078% of global energy use. In comparison, the gold industry consumes around 240.61 TWh annually, factoring in emissions from various stages of production and refining. The traditional banking system, encompassing data centers, branches, ATMs, and card network data centers, uses even more energy, estimated at around 638.88 TWh annually.

When we delve into the emission intensity (g/kWh) of bitcoin and compare it with other industries, it becomes clear that bitcoin, with an emission intensity of 296 g/kWh and a sustainable energy mix of 52.6%, is more environmentally efficient than many other sectors.

The gold industry, which relies on a combination of non-electrical and electrical power sources, has an even higher emission intensity of 679g/kWh and a sustainable energy mix of a mere 12.8%, according to Goldmoney.com. These figures underscore the critical role of the energy mix in determining the environmental impact, and they position bitcoin in a more favorable light when considering emission intensity.

Source https://www.forbes.com/sites/digital-assets/2023/07/07/everything-you-need-to-know-about-bitcoin-and-the-environment/

I have read before about countries like Slovenia, Switzerland and Netherlands to be the most friendly countries, but it has been long that I have read about this. I do not know if countries like El Salvador and Central Africa Republic would be listed among.

What is most important to people is the countries that adopt bitcoin most, even not minding if the government of the country is fully supporting bitcoin or not. I mean the countries that are buying and trading bitcoin most. Crypto friendly countries should also be among.

This thread is not about having privacy, it is about countries that are bitcoin friendly. With the way people are buying bitcoin this time, it is easy for chain analytic companies and the government to know that they buy crypto.

Such a policy may be quite extreme and more unfriendly to customers.
Despite engaging in crypto transactions, do they have the right to interfere in private transactions made as long as it is not a crime.

Unless the transactions made exceed a reasonable amount of transactions, seen with very large transactions.
That could possibly be a necessary review.

But if it is just a small trading transaction, let alone a transaction made on a local Exchange that is already registered.
Strict service to their customers is also influenced by regulatory issues.

They have to change their attitude, "Unfriendly" banks will only be the ones that are left behind and cannot evolve with the latest payment technology today.
More rules means more understanding of what their customers are using, more flexibility and not making rules that favor their own company.

What you're talking about, op, it merely based on a personal experience, while someone else could have it differently. I think I've seen various rankings, but it was about Bitcoin adoption. Some account for legislation when they measure adoption, so it can be partially relevant. I think it would be useful to have a balanced Bitcoin friendliness index that would combine public perception, legislation, de facto stance based on available news, etc.
The thread already has links to Bitcoin legal status by country and adoption by country. I can also see that some lists of crypto-friendly countries are directly based on the legislation they have regarding Bitcoin (here, for example).

It feel like the BTC friendliness fluctuates quite a bit, same for popularity.
There used to be quite a few BTC ATM's in the town im at but now all of them have dissapeared. Im sure it had to do with how many people used them but the other factor is the uncertanty that lack of understandable regulations brings. One one moment everything is fine, the other, its all illegal.

I agree with this. However, for certain business opportunities they must know. For example, if you need to have a bitcoin mining farm or even if you need to buy something that is very expensive you will have to explain later how you got the money to buy it and if you didn't tell the jail or terrorism court issues will follow you.

Im sure that gov shouldn't know that you have crypto even if it's "friendly"

I work on contract in some African & BRICS countries and they are quite relaxed when it comes to Crypto currencies. My first destination is always South Africa and then we charter smaller planes to transport us to the neighboring countries. I once saw a Fiat ATM offering a option to buy bitcoins from the ATM.... so I was very intrigued by that.

I think it might be because many of these countries are looking for "cheaper" alternatives to MoneyGram and WU for money transmitters. A lot of their citizens work abroad and they are sending money home. 

Yes, there were some reports of some of the UK banks cancelling services to customers involved in crypto trading, but I don't think it was necessarily due to those banks hating on crypto, but more about the fact that such transactions would fall under "suspicious" in their systems. That could mean that such transactions triggered internal investigations, and since the cost of employees' time is not cheap, keeping those customers would mean making losses, so it was easier to just kick them out.
But still, most major banks would not cause you any problems for transferring to/from crypto exchanges. And I think, as crypto becomes more mainstream, "unfriendly" banks will be changing their stance as well, if they haven't already.
Anyhow, just because a few private businesses are not very keen on crypto that doesn't mean the whole country is as well.

Don't they charge income tax instead of capital gains tax which can be up to 45%?

Most countries have some set of rules for bitcoin that can be changed in a blinking of an eye if they start feeling threatened. Only a handful of countries have banned bitcoin which can be considered "the worst" and a handful of countries that have actually and fully adopted bitcoin that can be considered "the best" like El-Salvador.
Additionally as long as you are not only trading or involved with centralized services (exchanges, processors, etc.) as an individual using a decentralized currency you shouldn't be affected by the rules.

I think the most coolest & Bitcoin-friendly countries should be "El-Salvador" & "Central African Republic" simply because in those areas Bitcoin is fully legalized as legal tender and as such could be easily accessible by citizens without stress. And secondly, since you have regarded the list given by forbes not to be authentic, I think the only way we can have an authentic data about the most Bitcoin friendly countries in the world is if each and everyone of us can come here & mention how the use of Bitcoin looks like in that particular region, so that at the end, O.P could compare the names of the most friendly regains.

So starting from me, I'm from Nigeria, and Bitcoin is not completed banned, but it was restricted by the Central Bank of Nigeria in 2021 under the last administration of president Mohammedu Buhari, due to the fact that they never wanted people to have their funds in Bitcoin rather than banks where they could have total control over it, but with the help of p2p platforms such as "Binance" and "Remitano", Nigerian citizens can now buy and sell Bitcoin in few seconds without stress, which I'm a living witness to that.

Note: But just that you can't buy Bitcoin using bank cards such as Visa or Mastercard.

So that's that for Nigeria.. How about yours?

List might be changing though as there are countries that might suddenly make a U-turn on how they look at Bitcoin,

Maybe you can look at this list: https://getgoldenvisa.com/crypto-friendly-countries


Each one of them have it's strengths that's why they are in the list. But just like what I said, the list is dynamic, maybe every month you will see it get bump and countries getting into the list.