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In Satoshi Nakamoto’s Bitcoin white paper, the pseudonymous creator envisioned a purely peer-to-peer form of electronic money that wouldn’t require the interference of financial institutions. While some decided to become crypto-friendly countries, the very premise of cryptocurrencies did draw the ire of some nations. On this page, you’ll get to explore the global cryptocurrency environment and discover the jurisdictions that we deem to be the most crypto-friendly countries of them all.
Top 10 Countries that Use Bitcoin and Allow Cryptocurrencies
Many countries in the world now let you use Bitcoin and other cryptocurrencies in a variety of ways. That said, of the top 10 countries that use Bitcoin, only one lets you actually use the headline crypto as legal tender. Even with this being the case, InteliumLaw can still help you set up crypto businesses, even Bitcoin casinos, around the world.
El Salvador
Easily ranking number one among the top 10 countries that use Bitcoin, El Salvador was the first nation to accept Bitcoin as a form of legal tender. To the time or writing, El Salvador remains the only place that uses Bitcoin as currency. The move came in September 2021 as a way to promote financial inclusion within the Central American country of around six million people. Their stance on accepting and promoting Bitcoin has only improved since.
Malta
Malta’s big selling point from the start has been that they made clear-cut classifications to offer legal clarity. Seizing the opportunity presented by Bitcoin’s first mainstream surge, in 2018, Malta enacted three key pieces of legislation to try to establish itself as “Blockchain Island.” Those bills were the Virtual Financial Assets Act, the Malta Digital Innovation Authority Act, and the Innovative Technology Arrangements and Services Act. The rules that have come from these have made Malta a veritable blockchain regulation haven and easily one of the top 10 countries that use Bitcoin.
Switzerland
It likely won’t come as a surprise that the financial hub that is Switzerland was a pioneer in promoting cryptocurrencies as far back as 2016. As a crypto regulator, the country has been sure to diversify its crypto licenses so that it can be dynamic while the blockchain environment evolves. On top of this, it gets to rank among the top 10 countries that use Bitcoin because Switzerland promotes making transactions with cryptocurrencies.
Gibraltar
Gibraltar has staked its claim as one of the top 10 countries that use Bitcoin in recent years. Its focus has been on creating a favorable environment for businesses that deal in cryptocurrencies and blockchain technology, which is underpinned by 2020’s enactment of the Financial Services (Distributed Ledger Technology Providers) Regulations. With this, Gibraltar became the first to offer much-needed, clear guidelines for businesses in this sector.
United States of America
Thanks to its diverse array of national departments and agencies that handle crypto regulation, the USA gets to rank among the top 10 countries that use Bitcoin. All-in, the approach is aimed at upholding transparency and clarifying the legal status of digital assets like Bitcoin while also fending off financial crime. That said, the different agencies tasked with regulating cryptocurrencies do vary in their perspectives and treatment of digital assets.
Singapore
Singapore has long veered on the side of caution when it comes to cryptocurrencies, leading it to establishing a balanced regulatory approach. Governing it all is the Monetary Authority of Singapore (MAS), which places the central bank – somewhat contrarily to the Bitcoin white paper – in charge of all cryptocurrency and adjacent activities. In doing so, MAS has provided a comprehensive regulatory framework through the Payment Services Act, allowing associated entities to know exactly what’s required of them.
United Kingdom
The UK’s standing among the top 10 countries that use Bitcoin comes as much from its standing regulations as it does its ambitions. Through the Financial Conduct Authority, which oversees know your customer and AML regulations, cryptocurrency entities are essentially treated the same as traditional financial ones. The focus in the UK is to prevent illicit activities and then become a crypto hub. Given London’s status in global finance, this is a very promising sign for the crypto world.
Hong Kong
As shown by major initiatives like “Project Dunbar,” Hong Kong is actively promoting the Web3 space and its further development with an eye on attracting more companies and financial institutions with ties to crypto. In November 2021, Hong Kong brought the Securities and Futures Commission into power, creating a way of licensing exchanges and, as a result, setting the bar for crypto oversight and regulations on the continent. However, neighboring China being anti-crypto may cause issues down the line.
Estonia
Estonia is the prime example of one of the top 10 countries that use Bitcoin needing to quickly change due to the rapidly evolving nature of Web3 and how it’s perceived on the world stage. Licensing was run by the Financial Intelligence Unit from November 2017 until March 2022, which saw amendments to the Money Laundering and Terrorist Financing Prevention Act create far stricter rules on licensing. Still, the clarity provided by its regulations and the crypto license in Estonia cements the country among the most crypto-friendly.
United Arab Emirates
The nation’s commitment to becoming a global hub for technological innovation has extended into the world of virtual asset regulations. By creating the Dubai Virtual Asset Regulatory Authority under 2022’s Law No. (4), the Emirate has been able to issue licenses and successfully regulate those license-holders, virtual asset custodial services, and any exchanges under their purview.
What it Takes to be One of the Most Crypto-Friendly Countries
If you’re looking to create a cryptocurrency exchange or establish your crypto business anywhere in the world, the country that you pick can make a huge difference. Some outright ban crypto businesses, so it’s always best to pick one of the most crypto-friendly countries – which our global legal experts can help you with here at InteliumLaw. Here are some factors that you should look out for:
- Integration and Adoption: When it’s one of the most crypto-friendly countries, you’ll see that the general population is keen to be a part of crypto communities, forming widespread demand and acceptance from the public to the private sector.
- Available Infrastructure: You should be able to spot some key pieces of crypto infrastructure around the most crypto-friendly countries. This can include other crypto businesses and Bitcoin ATMs.
- Crypto Taxation: Important to facilitating the growth and adoption of cryptocurrencies is low taxation or even the absence of taxation on cryptocurrency transactions.
- High Security: Anywhere that sets out to become one of the most crypto-friendly countries in the world will start by establishing a robust network of crypto security measures, which includes the infrastructure to attempt to negate money laundering, theft, cyber attacks, and fraudulent behavior.
- Clear-Cut Legislation: An issue in the early days of crypto and Web3 as a whole was not knowing where anyone stood. Now, all of the most crypto-friendly countries have very clear-cut legislation in place with strong regulatory bodies that enforce licensing and offer legal clarity.
Which Country has Most Crypto Investors?
There are two ways to answer the question, “which country has most crypto investors?” For a hard count, the USA is the answer with over 53 million. Alternatively, you could answer which country has the most crypto investors by the population percentage that’s bought in. Here, the answer is the UAE, with 30.4 percent of its population owning crypto of some kind.
What Country Uses Bitcoin as Currency and Where isn’t Crypto Taxed?
El Salvador is the answer to the question of what country uses Bitcoin as currency. It is only in El Salvador that Bitcoin or any other form of cryptocurrency, as of the time of writing, is permitted as legal tender. However, you can also find countries with no crypto tax, like El Salvador, Hong Kong, the UAE, Switzerland, Singapore, and Malta. You’ll also find that Germany, Slovenia, Malaysia, Belarus, Georgia, and the Cayman Islands are countries with no crypto tax.
Complete Cryptocurrency Legal Countries List (2025)
While the countries adopting Bitcoin as legal tender is secluded to just El Salvador for now, as you can see, plenty of nations permit cryptocurrencies within their borders:
- Albania
- Angola
- Argentina
- Australia
- Austria
- Belarus
- Belgium
- Bolivia
- Bosnia and Herzegovina
- Brazil
- Brunei
- Bulgaria
- Cambodia
- Canada
- Central African Republic
- Chile
- Colombia
- Costa Rica
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Ecuador
- El Salvador
- Estonia
- Fiji
- Finland
- France
- Germany
- Georgia
- Gibraltar
- Greece
- Hong Kong
- Hungary
- Iceland
- India
- Indonesia
- Iran
- Israel
- Italy
- Jamaica
- Japan
- Jordan
- Korea Republic
- Kyrgyzstan
- Lebanon
- Lithuania
- Luxembourg
- Malaysia
- Malta
- Marshall Islands
- Mauritius
- Mexico
- Namibia
- Netherlands
- New Zealand
- Nicaragua
- Nigeria
- North Macedonia
- Norway
- Pakistan
- Palau
- Philippines
- Poland
- Portugal
- Qatar
- Romania
- Russia
- Samoa
- Saudi Arabia
- Singapore
- Slovakia
- Slovenia
- Spain
- South Africa
- Sweden
- Switzerland
- Taiwan
- Tanzania
- Thailand
- Tonga
- Trinidad and Tobago
- Turkey
- Tuvalu
- Ukraine
- United Arab Emirates
- United Kingdom
- United States of America
- Uzbekistan
- Vanuatu
- Venezuela
- Vietnam
- Zimbabwe
While there are a great many entries to the cryptocurrency legal countries list, there are also a few to steer clear of. These are not the countries adopting Bitcoin and have instead ruled cryptocurrencies to be illegal:
- Algeria
- Bangladesh
- Bolivia
- China
- Ecuador
- Iran
- Iraq
- Macedonia
- Morocco
- Nepal
- Saudi Arabia
With this article, hopefully, you’ll now know where to look to find countries adopting Bitcoin and other cryptocurrencies that make for much friendlier ecosystems for crypto businesses.
