Major financial centers, like London and New York, are seeking to apply traditional financial services rules to the crypto sector. While attractive to big institutions seeking safety, the compliance complexity and associated costs are prohibitive to the majority of startups. Conversely, lightly-regulated jurisdictions like the Seychelles and Belize allow far easier market access, but offer less protection for investors and have looser checks on money laundering. Alternatively, the likes of Belarus and other newer entrants — including Bahrain, Malta and Gibraltar — are seeking to offer a third way: crafting specific rules for the cryptocurrency sector, betting they can attract companies by providing regulatory security as well as perks like tax breaks. “There are jurisdictions in the see-no-evil, hear-no-evil camp,” said Jesse Overall, a lawyer at Clifford Chance in New York specializing in crypto regulation. “On the other end there is the U.S., UK, EU. In the middle, that’s the juicy part of the spectrum.”

https://venturebeat.com/2019/07/29/the-small-nations-going-big-on-cryptocurrency/?utm_campaign=Daily%20Roundup&utm_medium=email&utm_source=Revue%20newsletter