• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Blockchain

Indian Blockchain and Crypto Startups Are Moving to Regulatory Friendly Countries

newsbtc by newsbtc
3 years ago
in Blockchain, Cryptocurrency Technology
Reading Time: 3min read
Blockchain
Advertisement

India’s blockchain ecosystem — which includes developers, services providers, and other cryptocurrency-related companies — are increasingly moving to countries with more friendly jurisdictions like Singapore, Switzerland, Japan, and, in particular, Estonia.

Crypto Startups Moving Away From India

The migration has been triggered by various moves made by the Indian government over the past several months, which have dampened enthusiasm for the country amongst many in the space. Some are comparing the move to the ‘brain drain’ in the dotcom boom that saw the transplant of topnotch tech professionals to countries with better opportunities.

“We are having talented people and companies from the blockchain space move out of India. There are enough countries out there who realize the importance and want to take a lead in the blockchain ecosystem,” said Joel John, an analyst at U.K.-based Outlier Ventures who spoke with Factor Daily.

Estonia in particular seems to be a favorite among those migrating from India thanks to its crypto and tech-friendly regulatory environment. It easy to register and set up businesses in the country, initial coin offerings (ICOs) and cryptocurrency investments are not heavily regulated, and the country’s blockchain-friendly regime supports mass adoption of the technology.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“We had decided to go the ICO way and for that, the current Indian regulatory setup makes it difficult,” says Abhinav Arora, chief marketing officer at Enkidu, a decentralized collaboration platform being built in Bengaluru. Its parent company Avalon Labs is registered in Singapore. Enkidu is looking to register in Estonia.

“We also thought of Japan but that did not make financial sense to us because of the [taxation] cost involved in liquidating our Ether holdings. We even briefly considered Cayman as an option but Estonia was best suited for our projects especially with the ICO plan.”

Estonia’s E-Residency Program

Estonia has in fact been attempting to draw crypto and tech-related startups from across the globe for several years now. In 2014 it launched its e-residency program, which made it easy to register a company in the country. On top of that, Estonian representatives have been holding sessions in India to attract entrepreneurs there, with a goal of registering 200 Indian startups in the near future. 

Another Indian company looking to Estonia is Indium, an Ethereum-based blockchain network with a focus on utility apps and public goods, founded by Nilesh Trivedi, a blockchain developer from Bengaluru.

“Crypto and blockchain are only one of the reasons for registering in Estonia. Being registered there will also allow me to offer other services and conduct business in the EU. Also the tax regime there is good,” says Trivedi. “To apply for e-residency, I had to give them a scanned copy of my passport, photograph, and very basic details. Now, one month later, my ID has arrived at the embassy,” he says.

Not only is the process user-friendly, but the government also has service providers that can help officially set up a business, open a bank account, and even keep a company’s books. The residency ‘will just cost me 100 Euros for three years and I can renew it again after that,’ Trivedi says.

Featured image from Shutterstock.
Tags: blockchaincryptocurrencye-residencyestoniaICOindiajapanmigrationregulationsingaporeTech
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

ILCoin, virtual reality

Why Virtual Reality is The Future of Entertainment

4 weeks ago
Contested Election Results Force Discussion of Blockchain Based Voting System

Contested Election Results Force Discussion of Blockchain Based Voting System

4 months ago
jax network

Jax.Network Addresses Crypto Scalability Issues, to Create A Decentralized Consumer Payment System

5 months ago
ethereum gas fees uniswap uni

Uniswap UNI Token FOMO Brings Ethereum Fees To Nearly $1M An Hour

5 months ago
bitcoin btcusd

How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet

5 months ago
bitcoin whale

“Intense” Bitcoin Whale Exchange Flow Could Be Behind Weekend Crash

5 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

What Will Happen to Oil Production and Distribution in 2021, and How Can You Make a Profit on It

February 28, 2021

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.