The Swiss Financial Markets Monitoring Service (FINMA) has grasped the applications of the banks Maerki Baumann Bank and Incore Bank for the delivery of services connected with cryptocurrencies. Now the clients of the banks can speed up with services connected with cryptocurrencies. By the way, the government of the country has set a zero tax tribute for cryptocurrency until 2023.
Quedex has been licensed by Distributed LEDGER Technology (DLT) providers to provide cryptocurrency trading services such as Bitcoin (BTC) futures as well as cryptocurrency services, Gibraltar's Minister of Commerce has expressed support for Quedex's approval, and DLT-licensed firms will help cryptocurrency development.
The Danish Financial Supervisory Authority does not consider bitcoin and cryptocurrencies as "regular" currencies, which means that it is not subject to the agency's regulation. Operations with cryptocurrencies are not limited.
From December 2013 to the present day, the Federal Financial Supervision Authority considers bitcoin in particular (and some other cryptocurrencies in general) as a unit of payment, which in turn leads to the possibility of applying tax rules for "private money", that is, as capital. However, so far only transactions between individuals remain legal.
Tax-free jurisdiction for crypto traders in Portugal is one of the most attractive and profitable due to the new fiscal incentives introduced by the country's government. This decision was made by the country's authorities to improve the economic situation, as well as to bring it to the leaders of the fintech industry. Cryptocurrency in Portugal is used to pay for services or goods sold by sellers who accept this type of payment. Such conditions are especially beneficial for real estate sellers in Portugal.
Finland has defined the status of cryptocurrencies. Country within a country as a means of payment / financial instrument. Accordingly, cryptocurrencies are not subject to VAT.
For more details on the taxation of transactions with cryptocurrencies, see a specialized instruction issued by the Finnish Tax Service. It states that there are two taxes levied on cryptocurrencies: a capital gains tax and a "wealth" tax. As for the mining of cryptocurrencies, then such activities are subject to taxation.
Societe Generale Bank, selected by the Central Bank of France for the development of a digital payment system, is exploring the possibility of using the XTZ token platform to settle securities using the Tezos digital currency.
Given the fact that the current President of France, Emmanuel Macron, has a positive attitude towards cryptocurrencies, the implementation of the plan is quite possible.
On December 22, 2017, the President of Belarus, Alexander Lukashenko, turned Belarus into a progressive "crypto-platform" by signing the Decree on the Development of the Digital Economy. This document describes in detail the issues regarding the taxation of transactions with cryptocurrencies, mining on various scales, describes the competence of individuals and legal entities in the field of cryptocurrency turnover, and so on. On January 5, 2021, President of Belarus Alexander Lukashenko, during a visit to the Gorizont innovation center, announced his support for projects for the construction of mining farms.
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