Bermuda, British Virgin Islands... Why crypto companies keep going there
Despite their 'bad' image, some jurisdictions are still attracting a great deal of interest. Tax, and above all regulatory flexibility, have a lot to do with it.
Bermuda, its beaches, its coconut palms, and its... crypto companies. For several years now, the British archipelago located in the middle (or almost in the middle) of the Atlantic Ocean has been attracting players in the ecosystem. The latest to arrive is Coinbase. The American giant has just set up a trading platform for institutional players.
Bermuda is not the only 'exotic' destination for Exchanges and other web3 companies. This is also the case for Jersey and the British Virgin Islands, which attract suitors thanks to their tax, and above all their regulatory flexibility, whereas the United States, and even the European Union, do not necessarily offer a sufficiently favourable environment.