Exploring the world of cryptocurrency taxations one country at a time

ambcrypto.com:

There is no denying that the popularity of crypto has been on the rise for quite some time now. New use cases are being developed for enterprises and retail clients alike. This growing popularity however, has its fair share of cons.

Furthermore, increased scrutiny by regulators and exploitation by bad actors affect the popularity of the crypto market. Additionally, the pressure of global governments to come up with regulations and taxes, drives cryptocurrencies at new crossroads. 

The policies of a nation have a direct impact on its industries and cryptocurrencies are no different. Moving to a different country to minimize tax on income is a concept well known in traditional finance. However, doing so to enjoy tax free crypto gains stands as a real concept that has caught eye in the recent past. 

A recent study published by blockchain analytics firm Coincub takes a closer look at countries around the world and their policies regarding crypto. The study derives different conclusions about the crypto friendliness of various countries. The report also assessed various aspects, such as tax policy, strictness of regulation, and general sentiment of the government towards crypto.

Germany tops the list of countries with the best crypto tax policies. The country has a progressive outlook, which includes  zero tax on crypto gains held for over a year. Italy follows Germany, with its high threshold of €51,000 for a zero-tax eligibility. 

Switzerland stood third with a tax exemption on overall capital gains tax for individual crypto investors. Singapore, a crypto-friendly nation, followed Switzerland with a rule for no capital gains tax on crypto earnings. The last one in the list was Slovenia where individual crypto gains are not