How Smaller States Are Going Big On Cryptocurrency

It seems that a pattern is emerging between nations in favour of cryptocurrency and those that want to quash it. The two most populous nations on earth are stamping on bitcoin and its brethren, while smaller states are embracing it with their own rule books.

New Cryptocurrency Players Emerging

According to reports, Belarus is one among a number of smaller nations that are actively seeking ways to develop their fintech sector by opening up to cryptocurrencies. Traditionally, crypto and blockchain startups have had to choose between two extremes when deciding where to set up shop.

Larger financial centers such as New York or London, may have the infrastructure for the financial sector and an instantly accessible market but startup costs are usually prohibitive. Conversely, the report adds, smaller jurisdictions that are lightly regulated can offer easier market access but also lower protection for investors and looser checks on money laundering.

A number of new players in the industry…