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Blockchain conference, BlockShow Europe 2018 has released a study identifying the Top 10 European countries for starting a blockchain company.

Switzerland is number one on the list, due to its positive regulatory dynamics and forward-thinking position on setting government guidelines for crypto startups. The country has been a hotbed for crypto innovation as home to Zug’s “Crypto Valley.”

Switzerland has become the central hub for сгурtоcurrency-related projects from all around the world, thanks to the positive regulatory dynamics imposed by the Canton of Zug. Located in central Switzerland, Zug is home to the “Crypto Valley” project, an independent, government-supported association that is aiming to create a “world leading blockchain and сгурtоgraphic technologies ecosystem.” It has become a home to multiple projects and fund entities, including Ethereum Foundation, ShapeShift, Bancor, and many others.

The Swiss Financial Market Supervisory Authority (FINMA) has also announced guidelines intended to assist local startups in launching lСОs in a manner that is compliant with Swiss law. In January 2018, Swiss Economics Minister Johann Schneider-Ammann outlined his vision for a new blockchain-focused Switzerland that would adopt the liberal perspective held by the Swiss municipality of Zug on a country-wide basis. Switzerland is home to world-class research institutes including the Swiss Federal Institute of Technology (ETH Zurich) and the Ecole Polytechnique Federale de Lausanne (EPFL), which is in the top 20 QS rankings.

Gibraltar and Malta round out the top three due to similar dynamics and government participation.

The study looked at 48 European countries in total, analyzing different aspects to determine which of them promoted blockchain and cryptocurrency advocacy, while also looking at actual regulations set in place for the growing blockchain sector.

The official criteria used examines Initial Coin Offering (ICO) regulations, regulations on cryptocurrency as a form of payment, as well as the taxation of cryptocurrencies.

Not far behind on the list is the United Kingdom at number 4, Denmark at number 5 (with 0% tax on cryptocurrencies), Germany at number 6 and Portugal at number 7 (where

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