Crypto-friendly jurisdictions

The label covers two different things. Some places attract individuals because they do not tax personal capital gains, or tax them lightly, such as the United Arab Emirates, the Cayman Islands or, under certain holding-period rules, countries like Germany for private disposals. Others attract businesses with clear licensing, such as Switzerland, Singapore, Hong Kong, Dubai and, within the EU, member states known for efficient MiCA authorisation.

Relocating for tax reasons is not as simple as buying a flight. Tax residence depends on each country's rules, often on days spent, permanent home and centre of economic interests, and many countries apply exit taxes or keep taxing former residents for a period. Spain, for instance, keeps taxing nationals who move to listed tax havens for the year of the move and the following four. Information exchange under CARF and DAC8 makes undeclared holdings abroad much easier to detect.

Favourable regimes also change. Several places have tightened rules after scandals or international pressure, so any comparison has a short shelf life.