The best jurisdictions for cryptocurrency business (Estonia, Singapore, Hong Kong, UAE, Switzerland, or the Caymans)

The best jurisdictions for cryptocurrency business (Estonia, Singapore, Hong Kong, UAE, Switzerland, or the Caymans)

There are several best jurisdictions for cryptocurrency business. Blockchain technology is new, but it is popular in different countries. As the demand for it is growing, laws to regulate the digital economy began to appear, aimed at attracting investment.


This country is one of the first to legalize this type of business. Digital services are widely used in the country in the private and public sectors. There is information that Estonia is planning to issue its own cryptocurrency.

Cryptocurrency activity in 2021 in Estonia is relevant because it is easy enough to get a license. It is possible to develop entrepreneurship in the territory of the EU after it is issued. Having a license allows you to provide exchange services and create electronic wallets. It requires an authorized capital of 12 thousand euros, a physical office, certificate of criminal record, and the resume of each founder.


This country is a financial center for cryptocurrency businesses. The economy is considered innovative, dynamic, and favorable for setting up a company. The level of corruption in the country is low.

Positive conditions have been created for ICOs, startups related to the crypto business. All companies in the territory that use virtual currency must pay a profit tax equal to 17%. The beneficial side of launching a cryptocurrency is that there are no plans to regulate cryptocurrencies in the near future.

Hong Kong

A license for cryptocurrency activities in 2021 can be obtained in Hong Kong. This currency is subject to a special legal status. Depending on what activities are planned, different approvals are required. Currency is divided into securities and virtual commodities.

Trading tokens requires an SFO license. To exchange currency for fiat money, an MSO permit is required, to exchange or perform other actions with the currency that has the characteristics of securities - SFC.


The state is considered a proponent of blockchain technology. There are already blockchain initiatives in the country - check-check services are being developed, and the Land Department is moving to blockchain systems.

The government plans to develop its own cryptocurrency, which could be used to pay fees and some government services. The regulatory regime for cryptocurrency varies according to geography.


This country is among the first ones to develop regulations for ICO projects. To open an exchange or startup, it is necessary to obtain a cryptocurrency license in Switzerland. Registration in the canton of Zug is the most relevant, because the tax rate is small and amounts to 12%. The territory has favorable laws regarding cryptocurrency.

The license allows you to perform commercial transactions with currency, make payments on behalf of customers and open accounts, and manage assets. Contact our specialists at IT-OFFSHORE to learn more about the nuances of obtaining the document.


The laws passed in the territory favor cryptocurrency-related activities. Business is regulated by general rules, as there are no highly specialized laws regarding the operation of ICOs or exchanges. There are no income  taxes and strict accounting requirements in Cayman, and information about beneficiaries remains confidential.

The most relevant is the opening of an exempt company. There are no strict requirements regarding the amount of share capital. At least one director and a shareholder are required to open a company.

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