Which countries have the most crypto-friendly banks?

Let's say I've got millions in crypto that I'm looking to cash out into fiat and I can prove where it came from. Which country would be the best for banking in this situation? I've heard good things about Dubai, Georgia, and Switzerland. For my future reference: # Ranking Countries by How Friendly Their Banks Are Toward Crypto ## 1. Switzerland - **SEBA Bank**: Really crypto-friendly. SEBA is one of the few regulated banks in Switzerland that focuses on serving the digital asset market. - **Sygnum**: Also crypto-friendly. Sygnum, similar to SEBA, is a fully regulated bank dedicated to digital assets and blockchain. ## 2. Estonia - **LHV Bank**: Quite crypto-friendly. LHV has been one of the more forward-thinking banks around, backing crypto-related businesses and blockchain initiatives. ## 3. Liechtenstein - **Bank Frick**: Crypto-friendly. Bank Frick is one of the rare European banks that actively provides services for the crypto industry, including custody and trading. ## 4. Singapore - **DBS**: Crypto-friendly. DBS has even set up its own crypto exchange (DBS Digital Exchange) and offers services for crypto custody and trading. ## 5. Luxembourg - **BGL BNP Paribas**: Case-by-case approach. While BNP Paribas has looked into blockchain, its Luxembourg location is pretty cautious about crypto, usually handling it on a case-by-case basis depending on the rules. ## 6. Dubai (UAE) - **Emirates NBD**: Generally viewed as cautious about crypto. The UAE is working on a regulatory framework for crypto, but traditional banks like Emirates NBD tend to be conservative in this area. - **Mashreq Bank**: Similar stance to Emirates NBD.

Do you have a reference from where these data is gathered? I don't see the list is correct. El Salvador is the only country that has legalised bitcoin. How come none of they are banks has made an appearance to your list! Also Dubai and Singapore are known for their friendly policies towards businesses. So it's no wonder that there banks are listed here. But would still like to know the reference of the data being presented here.

If you look at the countries and banks that you mentioned, legally and the laws that have been established are indeed friendly towards crypto, they fully support the development of Bitcoin in the future. However, we have often seen information about countries and banks that are crypto friendly, you only mentioned 9 countries and banks, maybe I can add other information about countries and banks that are crypto friendly, so there are 7 other countries and banks that are most crypto friendly. into 16 countries and banks. * The 16 Most Crypto-Friendly Countries in 2024 * What Banks Are Crypto Friendly? A Comparison Guide Hope it can also be a reference for the future.

Ukraine has gained a reputation as a favorable environment for cryptocurrency for several reasons: Progressive Legislation: Ukraine has been working on regulations to support the crypto industry, including legal frameworks for cryptocurrency exchanges and initial coin offerings (ICOs).Strong Tech Talent: The country has a robust IT sector with a large pool of skilled developers, making it an attractive location for blockchain projects and startups.High Adoption Rates: A significant percentage of the population is involved in cryptocurrency trading and usage, reflecting a high level of interest and adoption.Community Support: There is a vibrant community of crypto enthusiasts, developers, and investors in Ukraine, fostering innovation and collaboration.Cost of Living: Lower living costs can attract startups and projects looking to operate in a more cost-effective environment.Geopolitical Factors: The ongoing conflict has led to increased reliance on cryptocurrencies for financial transactions and remittances, as they provide an alternative to traditional banking systems. These factors make Ukraine an attractive location for crypto-related activities and investments.

Hong Kong and Singapore are both excellent for this purpose also.

## 4. Singapore - **DBS**: Crypto-friendly. DBS has launched its own cryptocurrency exchange (DBS Digital Exchange) and offers crypto custody and trading services. Really good, but their KYC is very laborious and time consuming. But once in, all good.

I don't know where you got this list from and how you ranked them, however if you have millions in crypto that you want to convert to fiat, you have to talk to your bank in your country. Since we are talking about a large sum of money here, they are likely to ask you for the source of funds, and if you got it through legal means, you should have no problems.

I tried Danish Bank a couple of years ago. It's ok. Been customer all my life.

The one in the list is what I am thinking of right now because of their vat-free for crypto transactions - UAE. Hongkong is also a good one IMO, they're trying to be crypto friendly. Hong Kong regulators are urging banks to provide services to virtual asset companies as the city pushes to establish itself as a hub of the crypto industry.

That bank has a really "good" reputation, especially if you need to "launder" a large amount of money. OP, my advice is to go to Switzerland, if you have proof that you bought BTC in a legal way and you want to sell it, there is hardly a safer place where you can keep your money than a Swiss bank. Although the only safer place would be to store your BTC in a non-custodial wallet and spend it as needed.