This country's stance towards cryptocurrencies has been favorable early on. They established basic rules surrounding Bitcoin way back in 2013, declaring that it was, in fact, private money. That's actually a pretty good description, and users must pay VAT when they make purchases, just like they would with any other currency.

It has not however been given status as a foreign or even digital currency. Germany cryptocurrency regulation is lax and that's good news for enthusiasts looking to utilize their digital coins and tokens whether they are visitors or citizens.

The climate for ICOs in this country is looking to be some of the most favorable in the world because they do not classify tokens as securities. This shields these assets from many unfavorable laws enacted in other locations like the United States where cryptocurrency tokens could be subject to the reach of the SEC and much stricter laws that could prevent certain legitimate projects from operating if they don't meet certain requirements.