Which Country Has The Most Crypto-Friendly Regulations?: The Review #1
After a continuous adaption, the cryptocurrency paid holidays have become a reality lately. Now, a lot of flights and hotels all around the world can be booked by using Bitcoin and there are cities that you’ll find venues that accepting Bitcoin such as restaurants, bars and any other stuff as well. Today, we are going to introduce you the most crypto friendly destinations, and also try to give you some insight about the crypto regulations there.
Gili Gershonok, spoken to Coin Telegraph, and as a person, he chooses not to have a bank account, said Prague is one of the most crypto-friendly cities across the world. Gershonok said:
“Businesses with crypto POS and ATMs are not everything [there]. Prague also has a really well-informed, well-connected and active crypto community. I feel like there’s more people here who casually know about cryptocurrencies and blockchain basics than in other places I’ve visited.”
In the city, Bitcoin used for renting apartments, paying for food and drinks across some bars and restaurants as well as cinema, if you find a good film worth watching.
Currently, the Czech Republic are the crypto-friendly country. Earlier in 2017, the local central bank stated that virtual currencies don’t represent a threat to the existing financial system and they said there’s no need to worry or afraid of Bitcoin.
Slovenia hosts a Bitcoin City and inside the building, you can find more than 500 retail stores and a payment system called EliPay allowing people to buy something with Bitcoin. Dr. Miro Cerar, the prime minister of Slovenia also paid a visit to the building and you can find 20 BTC accepting venues across this beautiful city.
Currently, the country have no clear regulations towards crypto but the local authorities have been continuously warning people about the risk of ICO’s and other scam digital currencies. Local government also seriously interested in Blockchain, as they are looking to make Slovenia a leading country in the European Union in the Blockchain era.
Back in April, the Caribbean Tourism Organization (CTO) stated to work with some startups in order to accept Bitcoin and other virtual currencies to make the Caribbean more attractive place for tourists. CTO’s general secretary Hugh Riley told the local media:
“The Caribbean aims to fully examine the advantages offered by new financial technology… In particular, blockchain financial services have the potential to advance the objectives of specific programs and activities within the tourism sector. The CTO has a responsibility on behalf of our members to fully explore those possibilities.”
In terms of policies, the Caribbean countries are approaching crypto adaption at the state level as well. In March, the Eastern Caribbean Central Bank has decided to launch a national cryptocurrency called DXCD and its ready to be offered alongside fiat in 8 of the Caribbean countries. Prime minister of Montserrat, Donaldson Romeo, said:
“The decision to move closer to a cashless society is in keeping with our overall development strategy, and also that of the ECCB.”
In terms of virtual currencies, Amsterdam is one of the most important cities across the world. Approximately, Amsterdam has 40+ Bitcoin accepted venues as bike rental is also one of them. The city also hosting the traditional Bitfilm event, where the people could come and watch a movie describing the latest developments around the sector.
Dutch court also sees Bitcoin as a ‘transferable value’ and their government also sees virtual currencies as a boost to the traditional financial system, rather than a risk.
Japan are currently leading the race in terms for virtual currencies and Blockchain adoption and their heart Tokyo is no different. It’s reported there are more than 80 venues that accept Bitcoin at the time of writing as there’s also lots of crypto ATM’s in there.
Japan also very open to new and emerging technologies and it’s safe to say that they are enjoying what they’ve done so far in terms of Blockchain and virtual currencies. Despite the warm reception, Japanese officials also continuously warning the investors against the risk that some of the scam ICO’s have.