The dappGambl resource in a recently published study highlights a number of significant factors on the basis of which you can choose cities that are "friendly" to cryptocurrencies. The locations given as examples refer to the "best habitat for cryptocurrencies."
Experts from dappGambl suggest the following criteria:
- Laws governing cryptocurrency: legal status, taxation, AML/CFT, consumer protection and licensing;
- The number of cryptomats;
The number of known whales living in the area;
- The number of "crypto events";
- The number of search queries about cryptocurrencies related to the location.
A study by dappGambl showed that cities from the USA, Great Britain and Canada are in the top. At the same time, the rating turned out to be different by country — Malaysia is the leader here because of the zero tax on cryptocurrency. If we correlate the research criteria with an adjustment for the accessibility of cities to be visited by Russian citizens, we can identify the following cryptocurrency-friendly cities.
According to the resource Golden.com , there are 697 registered crypto companies in Singapore. Cryptocurrencies in Singapore are regulated by law, but in general they have been given the green light. The jurisdiction strives to attract successful crypto projects and become a leader in this area, so the climate for crypto business here is not bad.
It is also important to note the absence of capital gains tax. Individual taxpayers generally do not need to pay income tax on their crypto assets unless they are professional traders, large miners, or receive cryptocurrency as payment for goods and services.
Russians will need either a work visa, for which they can apply with a fresh certificate of income exceeding $ 2,000, or register a company (for this you need a co-founder with a Singapore passport).
The capital of El Salvador has been on the radar of the crypto community for some time due to the legalization of bitcoin in 2021. In general, cryptocurrency is provided with more than favorable treatment there: there is no capital gains tax, and bitcoin is recognized as an official means of payment.
The authorities of El Salvador are so imbued with the digital currency that they plan to build a Bitcoin city near the capital - an entire city functioning thanks to the first cryptocurrency.
Russians do not need a visa to visit El Salvador — visa-free travel works for 90 days. If we are talking about work or moving to El Salvador, then in principle this is more than possible: obtaining a work visa and even a residence permit is not associated with insurmountable difficulties.
Argentina, the hero of the latest news about libertarian successes in connection with the victory in the presidential election of Miley Javier, a supporter of the Austrian School of Economics, takes a completely free position with regard to crypto assets. You can pay with cryptocurrency there. There are many points in the capital — according to some estimates, about 150 — where bitcoin and altcoins are accepted for payment.
Among other advantages, it is relatively easy to get a residence permit there, and after two years of legal residence in Argentina, you can apply for citizenship. Moreover, Argentina even has a special residence permit for "digital nomads" — Nomadas Digitales. You can go there from Russia without a visa.
Dubai has established itself as a cryptocurrency-friendly jurisdiction due to laws that are quite loyal to cryptocurrency and the relative ease of doing business. This attracts more and more cryptocurrency companies such as Boundless Pay, Metafluence and Singular One.
Russians will be allowed there without a visa. To obtain a residence permit, you can, for example, register a business — it is not very difficult and expensive there in comparison with some other countries.
Another "crypto-friendly" city, which even has a huge BTC-City shopping mall with more than 450 stores.
On the downside, Slovenia is a member of the European Union, which means that strict regulation of cryptocurrencies by Brussels can become an obstacle to the implementation of crypto projects. It also means that visas are already more difficult for Russians — no visa-free travel.
At the same time, the procedure for obtaining a residence permit in Slovenia is one of the simplest in the EU. You can get it, for example, by opening a business and employing a Slovene there, investing 50,000 euros in your company or having a turnover of 10,000 euros per month for six months.
USA and Switzerland
These are more complicated options. Some jurisdictions that have proven themselves well in the world of cryptocurrency are less welcome to visitors. So, the United States and Switzerland — countries with an excellent business climate and many successful crypto businesses — are far from allowing everyone to settle down, but often even enter.
If we talk about a residence permit, then in the United States, of course, you can play the lottery and win a green card, but for many, the more realistic way is to pay $ 870,000 for an investment visa. In Switzerland, you need to pay from half a million dollars annually for an investment residence permit (accord tax).