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Which is the Best Country for Starting a Cryptocurrency Exchange Platform?

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celine anderson
Which is the Best Country for Starting a Cryptocurrency Exchange Platform?

Although the cryptocurrency has experienced both ups and downs to its value, yet the cryptocurrency market is growing all over the world and also it is reaching great height.

Just an overview, cryptocurrency is a digital asset that cannot be regulated or monitored by any central authority. As it is a decentralized cryptocurrency, the buy/sell process will be done through a cryptocurrency exchange platform.

This cryptocurrency will be mined by the miners through cryptography to verify the transaction and will be added to the distributed public ledger called blockchain. By knowing its value and security, most of the business entrepreneur willing to start a Cryptocurrency Exchange Platform.

And in some countries, it is legal to do trade and to some other countries, it is illegal. The countries which accept virtual currency taking steps to add laws, regulations and other measurements to prevent fraudulent activities.

These are the Countries, sure to open up a tech market in the long term.

1. USA

  In the USA there are lots of possibilities to do a cryptocurrency-related business. American companies followed by Overstock, Microsoft, Subway,etc., had started accepting payments in digital currency which shows the awareness of cryptos among people in the US. The U.S Congress has the power to regulate cryptocurrency as securities through its constitutional power to regulate interstate commerce.

Cryptocurrency Exchange Development Service in USA.

2. Malta

  The country to accept cryptocurrency as legal and the legislation is more favorable to the business people. Malta government has a strong belief that the blockchain and cryptocurrency development business will bring a huge impact on the enhancement of the overall economic growth of the country.

Cryptocurrency Exchange Development Service in Malta

3. Singapore

  Singapore is Persistently considered as the most business-friendly regulatory environment to the cryptocurrency investors. In 2014, the Inland Revenue Authority of Singapore issued a series of tax guidelines in which bitcoin transactions can be treated as a barter exchange. And in 2019, MAS referred bitcoin as a digital Payment token.

Cryptocurrency Exchange Development Service in Singapore.

4. Korea

  Though the cryptocurrencies are not legal tender in the south and north Korea, the government of Korea has enforced a strict rule that cryptocurrency exchanges that want to proceed with their business legally have to register under the South Korean Financial Supervisory Service(FSS). In the future, it is expected to become a legal tender.

Cryptocurrency Exchange Development Service in Korea.

5. Japan

  Japan was the world's first country to enact a law for defining virtual currency as a legal term. In order to provide cryptocurrency exchange services in Japan, one must need an entity to register them as a " Virtual Currency Exchange Provider ".

Cryptocurrency Exchange Development Service in Japan.

Hence there is no doubt that 2020 will be a storm of opportunity to cryptocurrency investors.

Seize the opportunity at Bitdeal to take advantage.

Bitdeal - Decentralized Exchange Development Company

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celine anderson
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