Topic: Most crypto friendly countries in Europe - page 8. (Read 924 times)

There are indeed a lot of cryptocurrency investment-friendly countries in Europe. A reason for this is that a lot if these countries are tiger-economies, meaning that they are steadily increasing in terms if economic growth. And their leaders are aware of the national economic benefits of allowing cryptocurrency investment in their currency. Just like Georgia which I am surprised was in this list.

Hmm. Generally, Europe is pretty welcoming towards crypto. These countries are surely deserving their place on the list. However, it is interesting to see that Belarus is not on the list. Lately, Belarus made changes which highly benefit companies, miners, etc. in the crypto market.

"Lukashenko’s decree introduces tax breaks and other incentives for crypto businesses until January 1, 2023. No taxes will be imposed on companies that profit from mining, issuing and placement of digital coins. The same applies to crypto-related income of private individuals from mining and trading cryptocurrencies. In the next five years, even crypto firms based abroad will not be taxed." - https://news.bitcoin.com/crypto-business-is-now-legal-in-belarus/ (there are other reasons in the article to consider)

Also, governments can change their attitude towards cryptocurrencies pretty quickly, so this list might change quickly.

From what I have read in the net I would say that the reason for the most of the countries to be crypto-friendly is that they see some opportunity to attract new investors and raise some additional money. Slovenia and Georgia in different positions when it comes to economy, but I believe both of them still need a lot of investment. So at this point the countries with stable economy are careful with crypto, but the G20 meeting showed that there are positive perspectives. Everybody expected very bad news from G20, but this didn’t happen

I can confirm that Slovenia is as the article claims, very crypto-friendly.
Here are some of the most successful projects from SLovenia: Iconomi (ICN), Viberate (VIB), Cofound.it (CFI), Quantum (QAU), SunContract (SNC), InsurePal (IPL), Hive Project (HVN), SportyCo (SPF), MedicoHealth (MHP).

I am pretty amazed to find out that Estonia is so much crypto friendly. I live in Europe and I didn't know this

I found this article, and I am just curios do you agree with the author? Are these countries most crypto friendly in Europe?

https://icoguide.com/en/blog/5-most-crypto-friendly-countries-in-europe

It is interesting, that the three countries of Eastern Europe (Estonia, Slovenia and Georgia) appeared in the ranking. Two of them are former Soviet republics. I think these countries have excellent chances to attract blockchain enthusiasts and raise the economy of their country. I think other countries will follow their example.

Germany should be on that list as it has an advanced economy and is allowing bitcoin to trade there. Also, LISK is from germany and is going to be the bigger and better version of ethereum. They are releasing their product this year and everything is pointing to the sky!

Very good article. However, Georgia is not in EU and it's harder to live there. It's much easier to choose another EU destination if you don't want to fill 5 tons of paper.

Do you know what is the Capital Gain tax for cryptos in Slovenia, if any?

Tax treatment of cryptocurrencies

Furs again clarified the tax treatment of individuals and companies involved in the process of cryptomining. “Cryptocurrency mining is a non-VAT transaction,” they wrote. Miners also do not have the right to deduct VAT in the purchase of software and hardware for the mining of crypts. ‘The only right to deduct would be in cases where the confirmation of transactions with cryptocurriences would be exempt from VAT. In this case the suscriber outside of the Union would confirm the cryptocurrencies.

Income of natural person in the form of a virtual currency, for example bitcoins, in mining, is taxed as a second income. This is according to Article 105 of the Income Tax Act – Zdoh-2. The level of income in euros shall be determined taking into account the value of cryptocurrencies in euros at the time when the income is received.

From income from capital income, you do not have to pay income tax. You do not have to pay any tax on capital gains.

Otherwise, if a company or a natural person owns crypocurrency and is performing an activity – it has a registered status as a sole trader. If an independent entrepreneur trades with a cryptocurrencies or receives bitcoins with mining, then the profits will be taxed according to the taxation of income from the activity.

They are not an advanced economy, so they are looking for different options to succeed in something. It makes me very happy, I see this country as potentially possible for moving.

I am pretty amazed to find out that Estonia is so much crypto friendly. I live in Europe and I didn't know this