July 3, 2019 (Investorideas.com Newswire) Some nations like Bangladesh, Bolivia, and Egypt have prohibited crypto outright. Bangladesh has actually gone as far as to allow cryptocurrency holders to be sentenced to 12 years in jail for the criminal offense of owning crypto. Other countries like the United States, India, and China are still examining and producing the regulatory structure around the industry.
All this fear, uncertainty and doubt has driven crypto financiers and crypto projects alike to look for crypto sanctuaries where they will be invited with open arms and able to focus on creating the decentralized world of the future.
The bright side is that some nations are backing blockchain or adopting a ‘do no damage’ technique to this emerging tech motion. Well known pro-cryptocurrency countries consist of the similarity Singapore and Switzerland. However, other crypto centers such as Costa Rica are quickly emerging too. In this post, we’ll explore what’s going on in Costa Rica and why it might turn into one of the blockchain powerhouses of the future.
Why is Costa Rica considered a Pro Cryptocurrency country?
To get an idea of how favourably the Costa Rica federal government views cryptocurrency, it is among the few countries in the world where workers can legally be paid in crypto. The only downside here is that income payments up to the base pay should be paid in fiat and whatever above that can be paid utilizing cryptocurrency. Now, if that isn’t a huge endorsement then we don’t understand what is.
With the Costa Rican federal government having such a friendly stance, it’s not surprising that actual crypto adoption is rising rapidly and that increasing numbers of crypto companies are aiming to, or have, relocated to the country. We envision it also does not harm that Costa Rica is home to some of the most spectacular scenery on earth and is among the most biodiverse put on the world. This makes it the perfect trip for crypto pioneers…