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10 Bitcoin And Crypto Friendly Countries | Most Crypto Friendly Countries In 2021 - YouTube
Channel: Grace Media
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10 bitcoins and crypto friendly
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countries
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the greatest advantage about bitcoin is
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that it is unlike fiat money and thanks
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to this you can receive bitcoin to
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and from anywhere in the world as long
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as you have an internet connection
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it's important to know when accepting
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bitcoin as a means of transaction
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due to its flexibility and universal
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acceptance it has driven many countries
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to engage in this new form of the
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transaction at the comfort of your home
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unlike currencies which it has
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geographical boundaries to get it
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it's all okay when it comes to holding
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the currency in your bitcoin account
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but when we try to bring it into the
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real market and try to utilize it for
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business transactions
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things get a little complicated the
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income tax government regulations
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authorization of transactions all come
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into play
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and that is what limits the use of the
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currency there are some countries that
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have opened their arms and embraced this
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method
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here are 10 bitcoin and crypto friendly
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countries
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10. netherland this country has 74
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merchants accepting bitcoin and several
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bitcoin atm
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and is on its way to becoming a haven
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for cryptocurrency users
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because the netherlands is famous in the
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bitcoin world
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this country's capital is amsterdam and
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is a host to world leading bitcoin and
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blockchain based development startups
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including bitfury and bitpay that was a
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significant move and after that
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there was no turning back mainstream
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media also mentioned crypto on a regular
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basis
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but is mostly focused on the price
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movement these cryptocurrencies are used
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as payment as peer-to-peer electronic
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cash
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is not the most popular with efficient
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financial institutions
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these cryptocurrencies have mostly
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become another asset to trade with
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9. georgia there are unfortunately no
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bitcoin atm in georgia for now
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so local bitcoins is another option here
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you can buy
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and sell bitcoin for a wide range of
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payment methods from gift cards to bank
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transfers
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local bitcoins is a peer-to-peer
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exchange where you buy and sell with
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another individual
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georgia is an eastern european nation of
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close to 4 million people
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and is also and does not have a
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legislative restriction for crypto
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exchange
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and a date does not require any license
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for such activity
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also georgia provides a high tax
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certainty and beneficial tax system
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involved in the crypto field which is
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the purpose of attracting foreign
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investment
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to its i.t industry georgia's
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post-soviet economy is one of the
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quickest growing economies
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which is thanks to economic reforms and
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modernization
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and as a result of this the country has
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been ranked 14th in the world
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and 13th in its economic freedom georgia
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has the second highest bitcoin mining in
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the world
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8. estonia estonia is a country in
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northern europe which borders the baltic
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sea
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and the gulf of finland this country has
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amazing features like islands
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beaches mountains and above all has a
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boastful economic life
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that also carries out bitcoin
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transactions
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this bitcoin gives estonian citizens and
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businesses digital authentication
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estonia hosts a number of bitcoin atoms
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and startups such as paxful which is a
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global peer to peer buying and selling
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service for bitcoin
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and has one of the highest internet
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penetration in the world hence estonia
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is well positioned to be a place where
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cryptocurrency users can certainly feel
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welcome and feel at home
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another interesting part about estonia
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and bitcoin is that the small baltic
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opened its gate for bitcoin's dealers to
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carry out transactions
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in all major sectors like banking
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insurance and healthcare
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it also enabled a bitcoin-based e-voting
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system
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and allowed buying stocks through the
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same method
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7. denmark denmark has always been an
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advocate of taking its citizens towards
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a digital payment economy
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which means that the idea of the use of
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bitcoin as a transaction method did not
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come as a surprise
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the citizens of denmark use bitcoin in
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such a high volume
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that the graph is constantly rising day
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by day
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in denmark there are various bitcoin atm
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that also function 24 7 thereby allowing
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your transaction in the same
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to add to this denmark even hosts csec
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which recently released bitcoin
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selling or trading bitcoins in denmark
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is fairly easy due to a large
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number of bitcoin exchanges that operate
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freely as part of the digitization trend
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thus
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the cryptocurrency business in denmark
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and fintech companies
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in general has many opportunities to
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explore
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6. south korea south korea as we all
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know is an east asian nation
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and its history goes way back to the
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most sophisticated innovation
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and has been able to show the world that
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in its virtual currency space
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this country accounts for about 10 of
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the world's bitcoin trading rate
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though it should be noted that the
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country is not really populated
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despite that fact its bitcoin rate is
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huge because it has created a friendly
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environment for bitcoin startups
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and a flourishing business life that
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grows here is the good news that south
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korea has to offer to its citizens
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is that they are planning to waive all
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taxes on the cryptocurrency transaction
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and income for this year only
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in other words no taxation of mining
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trading or other business activities
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involving crypto till the end of 2021
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which means bitcoin gift and
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inheritances are also exempted from tax
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five united states of america
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the united states has always been known
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as a long of opportunities and among
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many of these opportunities is bitcoin
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the volume of bitcoin in the united
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states is very high
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and has been able to top the list among
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maximum numbers of bitcoin traders
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the usa has always been a pruner when it
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comes to currency and among which
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is the bitcoin business trading world
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just like other countries
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it has a number of bitcoin atm and other
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startup sources to promote
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the usa being the country that is known
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for its currency
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has many trading platforms and bitcoin
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atm
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especially in cities like francisco new
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york and florida
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it shouldn't be a surprise when i see
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many countries look up to the usa for
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guidance in the virtual currency space
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but it should be noted that transactions
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with cryptocurrencies will be subject to
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personal income tax or capital gain tax
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4. canada this country is highly bitcoin
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friendly and people living here will
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aptly vouch for the same
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here in canada there are over 86 bitcoin
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accepting merchants who are working
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under the official law
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canada has close to 900 bitcoin atm
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which most of which are in toronto
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montreal and vancouver
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toronto and vancouver are on the verge
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of becoming the two most flourishing
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bitcoin hubs
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and thus the state of the country seems
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very promising for bitcoin users
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you should note that cryptocurrency has
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been taxed in canada either as capital
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gain or income tax
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depending on whether your activity with
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this cryptocurrency is considered to be
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business or not
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3. slovenia slovenia is a country in
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central europe which is known for its
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mountains resort
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lakes among all a blissful economic life
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which has added another economic boost
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up called bitcoin
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this central nation of europe has a
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population of about 2 million
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and to top it all it has a crypto
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friendly government and financial
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institute
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which does not restrict those engaging
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in bitcoin transactions individuals who
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acquire bitcoin as part of their
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business
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or mining activities will pay income tax
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on it
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this country has a total of 200
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cryptocurrency atm
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and 10 of those devices are located in
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its capital ljubljana
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here bitcoin and other cryptocurrencies
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are classed as virtual currencies
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which means slovenia does not tax
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bitcoin as either money or security
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but instead profits are taxed under
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income tax
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2. singapore in singapore
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there are 12 bitcoin atms spread across
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the country in different locations
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especially males making it easier for
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you to buy digital assets anonymously
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thinking about the profit well know that
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profit earn in the long-term investment
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are currently taxable meaning if the
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cryptocurrency trades are deemed revenue
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assets
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then the tax could be applied depending
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on nature in return plus
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the monetary authority of singapore also
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allows some of the cryptocurrency
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companies to operate without a license
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within the grace period of six whole
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months this country
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singapore has a high rank in terms of
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political stability
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which is among the few jurisdictions
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that support the zero capital gains
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policy
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on cryptocurrency that explains why it
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can give a grace period of six months
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and not panic
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one japan japan was the first country to
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embrace bitcoin and made its transaction
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legal to the world and today some
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countries are doing better in that
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domain
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maybe even more than their teacher japan
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is also the leading country to first
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pass a board of regulations to 32 plus
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cryptocurrency
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exchange which was aimed at improving
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their security
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they even went a step further to make
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bitcoin transactions tax-free
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in order to invite others to join the
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league the country is on its way to
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becoming one of the most bitcoin
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friendly nations
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as many of the new startups and
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businesses in japan have already started
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to identify
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and accept cryptocurrency exchanges in
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their usual activities
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for that i think japan deserves a thumbs
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up because she is really doing well in
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its transaction activities
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all the exchanges happening in this
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space are duly recognized by the
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government
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and even daily updates are posted on the
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same
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thanks for watching this video about
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bitcoin and cryptocurrencies
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and hope you get to understand that
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while some countries are anti-bitcoin
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countries
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there are others who have accepted this
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means and are doing exceedingly well in
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it
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