The British Virgin Islands (BVI) is the second biggest cryptocurrency market in the world, according to the statistics released by CoinShares. The report is based on data received from the 15 largest cryptocurrency exchanges.
According to the study, the BVI’s trading volume in crypto-active assets reached the level of $78.5 billion during the first six months of 2018. A recent PwC report found that two of the three largest ICOs were also held in the British Virgin Islands.
The BVI’s laws are being adopted to ensure the cryptocurrency sphere is easily regulated in a proper way to meet the basic needs of the global customer base. For example, the BVI supports the launch of MBC (micro business companies) with lower registration and annual fees.
The British Virgin Islands are described as a tax haven. The country got rid of sales tax, capital gains tax, value-added tax, inheritance tax, and corporate tax. Based on these factors, the BVI is one of the best places for crypto companies.
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