Friendliest of them all? These could be the best countries for crypto

As a burgeoning industry less than 13 years old, cryptocurrency has seen its fair share of regulatory crackdowns and changes, especially in the United States. Jake Yocom-Piatt, co-founder of Decred, however, sees the nation as the most crypto-friendly.

“Cryptocurrencies are treated as personal property in most jurisdictions, so their tax treatment is relatively uniform,” Yocom-Piatt said. He continued:

“Cryptocurrency transactions are a form of speech, so states where free speech is protected are the least likely to restrict cryptocurrencies. While the U.S. currently suffers from many substantial sociopolitical problems, the combination of its freedom of speech with protections against forced disclosure of passphrases makes it the most crypto-friendly country in the world.”

Since 2017, the crypto industry has suffered a number of regulatory actions from U.S. regulators, from initial coin offering lawsuits to charges against companies such as BitMEX. The nation’s Department of Justice has also recently put out crypto regulatory parameters.

Earlier this year, U.S. Representative Tom Emmer expressed apprehension about the U.S. hurting innovative progress amid its legal processes and requirements. Yocom-Piatt’s view of the U.S. as the most crypto-friendly county, however, looks at the situation from a different angle, noting the country’s freedoms rather than its restrictions.

Meanwhile, Rob Viglione, co-founder and CEO of Horizen, told Cointelegraph, that he sees Puerto Rico as the top place for crypto, although he answered the question in light of the best crypto location for U.S. persons. “I’m going to nominate a country that’s not always recognized as a country and is way underrated as a crypto hotspot: Puerto Rico!” He added:

“For Americans, Puerto Rico is, by far, the most crypto-friendly jurisdiction when you consider special tax decrees, like Acts 20 or 22, which drive effective tax rates way down.”

The U.S. Internal Revenue Service 

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