The State of Crypto in Northern Europe: Hostile Scandinavia and Vibrant Baltic
The Nordics remain a cold place for crypto, but Estonia still leads the way as a public blockchain adopter.
Analysis
Despite the turmoil that erupted in the crypto market this summer, there is one important long-term marker that should be considered in any complex assessment: the combination of adoption and regulation. EUBlockchain Observatory's latest report, titled "EU Blockchain Ecosystem Developments", attempts to measure this mix within the European Union, by combining data from each member country, from Portugal to Slovakia.
As the original report is over 200 pages long, Cointelegraph has prepared a summary with the aim of capturing the most vital insights into the state of crypto and blockchain in Europe. Cointelegraph started with a group of countries generally referred to as Western Europe and continues with a review of Northern European states.
SwedenNumbers: $39.9m (€40m) raised in initial coin offerings (ICOs), 15 blockchain startups launched.
Regulation and Legislation: According to the report, the country still lacks specific legislation on crypto and blockchain: "Often it is necessary to use the existing legal framework and force the blockchain to fit into this framework." The main supervisory authorities in the country are the Swedish Financial Supervisory Authority and the Swedish Data Protection Agency.
Taxes: Although the report does not provide any information on the tax regime relating to crypto in the country, local tax advisers state that capital gains from the sale...
The Nordics remain a cold place for crypto, but Estonia still leads the way as a public blockchain adopter.
Analysis
Despite the turmoil that erupted in the crypto market this summer, there is one important long-term marker that should be considered in any complex assessment: the combination of adoption and regulation. EUBlockchain Observatory's latest report, titled "EU Blockchain Ecosystem Developments", attempts to measure this mix within the European Union, by combining data from each member country, from Portugal to Slovakia.
As the original report is over 200 pages long, Cointelegraph has prepared a summary with the aim of capturing the most vital insights into the state of crypto and blockchain in Europe. Cointelegraph started with a group of countries generally referred to as Western Europe and continues with a review of Northern European states.
SwedenNumbers: $39.9m (€40m) raised in initial coin offerings (ICOs), 15 blockchain startups launched.
Regulation and Legislation: According to the report, the country still lacks specific legislation on crypto and blockchain: "Often it is necessary to use the existing legal framework and force the blockchain to fit into this framework." The main supervisory authorities in the country are the Swedish Financial Supervisory Authority and the Swedish Data Protection Agency.
Taxes: Although the report does not provide any information on the tax regime relating to crypto in the country, local tax advisers state that capital gains from the sale...
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