Top Countries to Open a Blockchain/Crypto Business (2025)

Currently, Blockchain technology is developing strongly and being applied in many areas of society such as: economics, finance, culture, education, etc.

In particular, Vietnam is also one of the countries with applications and software on Blockchain technology in fields such as games, movies, etc., playing a role in the development of the digital age for Vietnam in the future.

The following article by GLA will point out the development trends of the Blockchain market and the countries that are allowing Blockchain to operate publicly and transparently.

1. Blockchain technology explodes in Vietnam

On June 04, 06, Vietnam Blockchain Association and Binance organized the Vietnam NFT Summit 2022 forum and announced a cooperation program to exchange research, apply blockchain technology and train human resources.

Notably, within the framework of the forum, the Vietnam Blockchain Association and Binance (the world-famous Blockchain application ecosystem) officially announced cooperation in exchanging research/application of blockchain technology, training human resources in Vietnam and internationally.

According to Mr. Changpeng Zhao, CEO of Binance, Blockchain is the new technology for the digital economy. Many countries are determined to grasp and apply blockchain technology properly in life.

"I believe clear and effective regulation is essential for blockchain to be applied in every corner of life, not just cryptocurrencies, DeFi or NFTs," Binance CEO Changpeng Zhao shared.

Mr. Phan Duc Trung, Vice President of Vietnam Blockchain Association said: “The Association not only plays a role in connecting and gathering the domestic Blockchain community, but also acts as a bridge to bring Vietnamese products to the world as well as attract more international resources to Vietnam.”

In Vietnam, Blockchain technology has many opportunities and potential for development, due to the following advantages:

Young workforce, young engineers with a strong desire to explore, love and research new technology

Information technology is increasingly developing and improving.

Games and software developed by Vietnamese technology companies and startups

The game Axie Infinity, the startup project Sky Mavis of Vietnamese startup Nguyen Thanh Trung, was valued at 3 billion USD in 2021, becoming a technology unicorn and having global influence.

The first Vietnamese movie to apply Blockchain, open an online exhibition in the virtual universe (metaverse) and give away NFT (non-fungible token) to guests attending the launch event.

2. Countries that allow companies to operate in the field of issuing crypto, tokens, and NFTs publicly and transparently

As Blockchain technology continues to develop and influence a number of industries and services applying Blockchain, a number of countries have recognized activities related to Blockchain technology and have policies on the circulation and use of cryptocurrencies.

So which countries allow Crypto trading, which countries allow Crypto trading, which countries allow NFT trading? Below, Global Links Asia will provide information about countries that allow the use of Blockchain technology, Cryptocurrency, Bitcoin.

Countries that allow Blockchain technology and regulate the use of cryptocurrencies, Bitcoin:

2.1. America

Legal and regulatory activities vary by state, Bitcoin is treated as a commodity and allows cryptocurrency derivatives to be traded publicly. 

The US allows businesses to open companies in the fields of Blockchain, NFT, Crypto but must meet strict financial law regulations.

2.2. Canada

Cryptocurrencies are not legal tender in Canada but can be used to purchase goods and services online or at stores that accept them.

Canada allows businesses to open companies in the fields of Blockchain, NFT, Crypto but must meet strict financial law regulations.

2.3. Singapore

Cryptocurrency exchanges and trading are legal and the city-state of Singapore has taken a friendlier stance on the issue than some of its regional neighbors. 

Singapore is also the country where many business owners choose to open Blockchain, Crytpo, NFT companies, besides Hong Kong and Japan, according to KPMG's Pulse of Fintech report.

2.4. Australia

The Australian government has declared that cryptocurrencies are legal and specifically stated that Bitcoin (and other cryptocurrencies that share similar characteristics) should be treated as property and subject to Capital Gains Tax.

2.5. Japan

Japan currently has the most progressive legal environment for cryptocurrencies in the world, recognizing Bitcoin and other cryptocurrencies as legal assets. Japan is also a country where many business owners open their Crypto companies.

2.6 guys

Cryptocurrencies are considered property. Investors must pay capital gains tax on cryptocurrency trading profits.

2.7. Switzerland

Cryptocurrencies and exchanges are legal, and the country has adopted a remarkably progressive stance on cryptocurrency regulation. The Swiss Federal Tax Administration (SFTA) treats cryptocurrencies as property: cryptocurrencies are subject to Swiss wealth tax and must be declared on annual tax returns.

2.8 EU countries

Cryptocurrencies are considered legal across the European Union, but regulations on cryptocurrency exchanges vary in individual member states.

Malta: recognized by the government as “a medium of exchange, a unit of account or a store of value”. Malta does not have specific laws on cryptocurrency taxation and VAT does not currently apply to fiat currency-to-cryptocurrency exchanges.

2.9 Estonia

Estonia considers cryptocurrencies to be “value expressed in digital form.” Accordingly, Estonia classifies cryptocurrencies as digital assets for tax purposes but is not subject to VAT. Many companies choose Estonia to set up shop because of its foreigner-friendly policies.

2.10.Gibraltar

Gibraltar is known for its low-tax environment: Gibraltar does not tax capital gains or dividends on cryptocurrencies, and crypto exchanges are subject to a business-friendly 12,5% ​​corporate income tax rate.

2.11. luxembourg

Finance Minister Pierre Gramegna has commented that, given its widespread use, cryptocurrencies should be “accepted as a means of payment for goods and services” in Luxembourg.

3. How does GLA support businesses to open Blockchain and Crypto companies?

With experience in strategic consulting for many international businesses and expertise in tax and financial policies of each country, Global Links Asia will support Blockchain businesses:

• Consulting on suitable solutions for establishing foreign companies:

Global Link Asia's experts will analyze the business models and problems of Blockchain companies, Crypto businesses, cryptocurrencies or NFT businesses to advise the MOST SUITABLE - MOST ADVANTAGEOUS country for the business-investment problem of enterprises, opening companies in Singapore, USA, etc.

• Support for opening Crypto trading companies, cryptocurrency trading, Blockchain game companies - NFT trading abroad:

With a team of consultants in Singapore and Vietnam, the process of opening a Crypto business, cryptocurrency business, Blockchain game company - NFT business abroad can be significantly accelerated without having to be present in the host country to open the company.

• Best national advice.
• Support in preparing documents and registering with government agencies.
• Support for financial reporting, tax declaration, suitable for reasonable costs.
• Support opening bank account.

4. Frequently asked questions when opening a Blockchain, Crypto company abroad?

Highlights

• There are 11 countries that allow companies to operate in the field of issuing crypto, tokens, and NFTs publicly and transparently.
• 4 countries with friendly policies and easy company opening procedures include Singapore, UAE (Dubai), Estonia, Switzerland.
• The company will need advice from lawyers, legal advisors, depending on the country, to open a company in the field of Crypto, Blockchain, NFT
• The company will need a business license, depending on the country, to open a legal, transparent company.