As we transition into Web3.0, more and more companies are beginning to accept the idea of de

As we transition into Web3.0, more and more companies are beginning to accept the idea of decentralization of blockchain networks and token-based finance. However, there are certain countries that have started this initiative early on and are more familiar with how it works.

Here are the top 3 countries that are crypto-friendly

1 Switzerland
It is acknowledged for its exceptional banking norms. Some even refer to it as the domain of finance because the country is politically stable and provides high privacy. Furthermore, the country has very flexible regulations for digital currency market participants.

2 Germany
Cryptocurrencies are treated as personal funds rather than financial assets, allowing tax refinement to be relatively simple. Cryptocurrencies acquired and kept for more than a year are excluded from capital gains tax. Digital assets that have been kept for less than a year and have a yield of more than 600 are subject to taxation.

3 Labuan, Malaysia
Labuan continues to promote and provide a fit-for-digital business infrastructures to facilitate various digital financial-related business DFS in the Centre. These include digital-banking, insurtech business to digital intermediaries such as Robo-advisors, digital asset exchanges, crypto trading platforms, blockchain tokens as well as e-payment systems. A Labuan company is allowed to deal with international market without any interference of Malaysia government while subject to tax as low as 3 by fulfilling certain substance requirement.

If you are interested to start your crypto business offshore, get in touch with us today! We are ready to help provide you with all the resources you need.
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