With nations around the world each holding significantly different regulations, what is the most crypto-friendly country? Kosala Hemachandra, CEO and founder of MyEtherWallet, labeled the query as a tough one.
“First we have to define what crypto-friendly means,” Hemachandra told Cointelegraph. “Some countries, like China, are looking at issuing government digital currencies, which would encourage swift adoption, but is not faithful to the decentralized spirit of crypto.”
China has proven itself as one of the less-crypto-friendly countries throughout the years, seen in various restrictions and bans. Throughout 2020, China has pushed significant efforts for its central bank digital currency, the digital yuan, although such an asset differs from the decentralized and open digital assets native to the crypto industry.
“In some places, especially those where fiat currencies are unstable or highly inflationary, regulations may be against crypto, but there is widespread use of client-side crypto solutions,” Hemachandra continued. Venezuela, for example, has suffered soaring inflation levels. In response, crypto