Analysts have compiled a list of countries that are suitable for the development of cryptocurrency. The largest mining sites are now located in Zug, Prague and San Francisco. At the same time, Japan, South Korea and Malta became promising countries for cryptocurrency.
Bitcoin is the currency of the future
Currently, operations in Bitcoins are carried out in many countries. Currency is officially recognized in the USA, Croatia, Switzerland and many others. According to experts, Japan was in the first place in terms of development activity of the blockchain. After the adoption of the Law on Services for Payments on 01/01/17, standards began to be created in the country to work with currencies of this type. Also, the activity of miners and traders began to be licensed, which made it possible to take control of certain resources. Analysts identified several positive points for the development of cryptocurrency in Japan:
- Transaction control
- The appearance of regulators
- Market predisposition to cryptocurrency.
In December last year, the FSA announced the rating requirements for businesses that work in the blockchain industry. In particular, we are talking about exchange platforms and mining farms, which began to appear in the country everywhere. Despite the mass of new rules, in Japan, cryptocurrencies are at the peak of their development, which is why large-scale and promising organizations appear in the industry.
The country recently announced the official blockchain strategy program, which was developed by Joseph Muscat. According to the Prime Minister of Malta, since 2017, Bitcoin and other cryptocurrencies have firmly penetrated the domestic economic market, which allowed not only to take them under control, but also to stimulate development. Now in the country the corresponding platforms work:
Malta’s regulators are already supporting startups in the relevant industry, which is why their development reaches its peak. In addition, even strict selection criteria did not become a problem for miners, stock exchange owners and traders.
Last year, the country began the process of standardization of business with cryptocurrency. Now in South Korea, a protocol is in place, according to which all market participants must undergo mandatory identification. At the same time, all transactions remain completely anonymous. The largest sites in the country are considered Bithumb and Upbit.