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The editors of BeInCrypto offer to get acquainted with the most crypto-friendly states. These countries have either banned cryptocurrencies outright or do not support their use in public places such as cafes, restaurants, and shops.
Recently, Fast Private Jet conducted a study to find out in which parts of the world digital assets are least accepted.
About what is happening with cryptocurrency regulation in Russia, read in a special material BeInCrypto.
China and Qatar decided to ban everything
Many countries are seeking mass adoption of cryptocurrencies, however, some states are moving in the opposite direction. Here, the authorities introduce strict regulation or directly ban cryptocurrencies, remaining behind the crypto revolution.
One of the main and most famous such “prohibitors” is China. In the Middle Kingdom, the storage and sale of cryptocurrencies is prohibited, and the use of digital tokens in financial transactions is considered an “illegal fundraising”. Nevertheless, the Chinese authorities have long been working vigorously to create and test their own digital yuan.
In addition, for various reasons, the ban on cryptocurrencies was introduced by countries such as Oman, Egypt, Qatar, Algeria, Iraq, Morocco, Tunisia and Bangladesh. Another 42 states, including Algeria, Bahrain and Bolivia, have limited the ability of banks to work with cryptocurrencies.
See also Countries that banned cryptocurrencies: we understand the reasons
Doha, Qatar
Country, Where is No crypto ATMs
In some countries, it will be extremely difficult to find crypto ATMs. So, in the United Arab Emirates (UAE), over 152 thousand people own cryptocurrency, and there is only one terminal for its cashing out, and it is located in Dubai.
At the moment, cryptocurrencies are not officially allowed by the Central Bank of the UAE. However, several crypto-exchanges have received the go-ahead for activities in free financial zones.
See also How to cash out cryptocurrency abroad: an overview of popular destinations
Here are the countries where crypto-ATMs are extremely rare:
1 UAE
2 Uganda
3 Venezuela
4 Japan
5 Saudi Arabia
6 Ecuador
7 Armenia
8 Aruba
9 Barbados
10 Botswana
The most crypto-friendly countries in Europe
In Europe, there are states that have already opened their doors wide for digital currencies – for example, Slovenia. However, many still oppose such innovations. The following European countries show the most cautious attitude:
1 Malta
2 North Macedonia
3 Albania
4 Bosnia and Herzegovina
5 Moldova
6 Luxembourg
7 Serbia
8 Montenegro
9 Monaco
10 Liechtenstein
Mdina, Malta
In Malta, the crypto industry is not regulated in any way, while there are no restrictions on the exchange, mining, sale and investment in BTC. However, according to Coinmap, in the Maltese capital, Valletta, tourists will not find a single place where they can spend cryptocurrency.
As commented in Fast Private Jet, “Luxembourg and Monaco also offer surprisingly few places where you can pay with cryptocurrency, although both are considered prestigious holiday destinations for the “rich and famous”, and Luxembourg itself is the wealthiest state in Europe. We expect that, thanks to the influx of holidaymakers, more cryptofriendly services will soon appear in these regions.”
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