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Five countries who said yes to ICOs when the world said no

In this list, we explore five countries who are safely and securely in support of initial coin offerings and are seeing the success of well-funded projects.

Written by Rebecca Leighton Published on

Initial coin offerings (ICOs) get a lot of flack for their riskiness and the “I want money, give me money” connotation attached. Unfortunately, this means that the genuinely good projects become associated with the same reputation and most governments are suspicious of all of them.

But not all governments are averse to the idea of the cryptocurrency crowd-funding method. In fact, some even embrace them and are as friendly to ICOs as the neighborhood postman is to your pet Jack Russell.

Unless your postman is unfriendly. Then ignore that metaphor. But don’t ignore the countries which are flourishing in their own ICO scenes.

Cyprus

One of the cities (countries) on the hill of ICO friendliness, this little European nation has been a hub of economic innovation owing to its sublime tax system. No double taxation equals double the fun (approximately, of course) a project can have with a coin offering fundraise.

It also helps that the country has an incredible education system and offers one of the world’s finest economic and financial tutelage.

Slovenia

Another little European country which has embraced ICOs with open arms.

With a goal to become the pinnacle of Blockchain technology development in the European Union, it is only fitting that Slovenia has become a welcoming place for coin offering initiatives to grow and develop into well-funded blockchain projects which have the opportunity to offer the world something new and innovative.

Startups love Slovenia and Slovenia loves startups. It’s a match made on the blockchain and both are benefiting from it.

Russia

Just Putin it out there, Russia doesn’t always have the best for its take on cryptocurrency. However, when it comes to ICOs, this nation is next-level content with allowing startups to flourish using the fundraising method. Russia is also attempting to incorporate the world’s first guaranteed system for ICO investments.

The Globex Bank has partnered with nationally owned Vnesheconombank Bank and the Russian Association of Cryptocurrency and Blockchain to develop the structure which has been creatively called ICO-hub and they have also announced an exciting blockchain laboratory which will see the developing and piloting of different blockchain initiatives to create and develop solutions for pressing problems.

Malta

This Mediterranean nation is taking steps not only to accept ICOs but to give them special treatment, too. The country is looking to develop a means to test whether an asset should be classified as a security or not in its new concept dubbed the Financial Test Instrument.

This would open up a brand new insight into what ICOs should be classified as, which would be a game-changer for regulation for both the country and cryptocurrency projects across the globe. The initiative has further helped cryptocurrency and blockchain technologies to open up the region to cryptocurrency exchanges such as Binance and OKEx who have recently restarted trading operations there.

Gibraltar

A country with a difficult name to pronounce if you aren’t familiar with it, but with an easy take on ICO acceptance. Luckily in this list, we care not for pronunciation.

This nation has made our list for a reason much like Malta; it has plans put in place to introduce legitimate and friendly ICO regulations. Not banning and not disallowing the method but, instead, are making a safe space for crowdfunding where investors are protected and the risk of scams minimalized.

If successfully implemented, this new concept will be exceptionally beneficial to Gibraltar and startups in the country as well as to other countries who can adopt the template and start regulating the Wild West of ICOs in a strategic way. In this case, everybody wins. Except for the scammers, I suppose, but we do not particularly care for their success anyway.

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Written by

Internet writer looking to find the right piece. Also presents things on radio and happens to be a chip off the old blockchain. @BeckyRLeighton