Regulators Rush to Become “Crypto-Friendly”

Regulation might seem anathema to cryptocurrencies, whose entire raison d’être is to circumvent the power of governments and banks to control how people use their money. But as the technology pushes into the mainstream, there’s a growing sense new rules are both necessary and even beneficial, leading to a boom in national experiments in crypto regulation. Some countries clearly see cryptocurrencies as a direct threat to the power of the state and have instituted outright bans, most famously in China, which had previously been a major hub for crypto activity. But others are attempting a careful balancing act, trying to manage the potential dangers without stifling innovation in a potentially lucrative new industry. There’s no established playbook for how to regulate such a new technology though, and Sergiu Hamza, CEO of crypto analyst firm Coincub, says the pace of experimentation has accelerated dramatically in the last year. His company provides a ranking of crypto-friendly countries which considers things like adoption levels and local talent, but also regulation and tax rules.

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