Only around a dozen jurisdictions worldwide exempt private investors from capital gains tax on cryptocurrency transactions. The publication highlighted 7 of the most crypto-friendly countries: the UAE, Switzerland, Singapore, Portugal, Germany, El Salvador and Georgia.

At the same time, the term “crypto-friendly country” does not necessarily mean a blanket 0% tax rate. In most cases, the tax treatment depends on the length of time digital assets are held, the investor’s status and the nature of the transactions.