Although the cryptocurrency market network is absolutely decentralized, it prefers a few geographical locations: Silicon Valley, New York, Malta, Gibraltar, Singapore and Switzerland are hubs for cryptocurrencies.
Malta
Malta is one of the leading pioneers in digital currency legislation, having already adopted three cryptocurrency laws. It should be noted that back in July 2018, before the adoption of these laws, Malta was one of the centers of cryptocurrency operations. This facilitated the operation of the blockchain, cryptocurrencies and the distributed LEDGER (DLT), which naturally led the country to the legal recognition of new technologies. (One type of split ledger is a blockchain). In 2018, the first Block Chain Summit took place in Malta. However, in Maltese banks, digital block start-ups cannot open company accounts until they have been duly licensed by the Maltese financial regulator. This process can take a long time - up to six months, paralyzing companies. Despite the obstacles, many start-ups, such as Binance, Bittrex, Okex, Bitbay, and Zebpay, have chosen Malta as their home country or location.
Liechtenstein
Liechtenstein is a unique country because the cryptocurrency is completely legal here. In total, there are only two such countries in the world! Due to the geographical location of Liechtenstein in the heart of Europe, many companies that have been forced to leave the EU find a home here. In May 2019, Liechtenstein began to push a bill known as the Token and Virtual Token Companies Act. It is also called the Block Chain Law. The law allows any value to be digitized and listed on a digital exchange. Values also include real estate and company shares. The legislation regulates the following concepts:
1.Ownership of digital assets
2.Transfer of ownership of digital assets
Storage of digital values
3.Legal aspects of digital value storage
4.Legal status and licensing of token issuing companies
5.Token offers, token sales and initial cryptocurrency coin offer
Switzerland
The Crypto Valley is located in Switzerland. It is located near Zurich, in the town of Zug. The origins can be found in the diligent work of some enthusiasts, when in 2015, using their coding skills, they tried to implement a new project. The team at The Spaceship was led by Vitalik Buterin, and the project created Ethereum. Now this house is legendary, it is the core and birthplace of the Crypto Valley. Since then, Zug has become the home of popular cryptocurrency companies. Starting from 2016, it is possible to pay the real estate tax in Zuga by paying with bit coins. This is the first such step in world history.
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When summarizing the information on these countries, it can be concluded that their physical size is relatively small. However, they are enterprising and courageous countries, making themselves the most ideologically and technologically advanced countries in the world. This approach brings economic and technological benefits to the home country itself and also to companies that operate successfully under progressive laws.
