ICOs and token sales are currently unregulated in many nations. However, that does not mean this will always be the case. Furthermore, laws regarding securities, tax, AML/KYC, commodities laws, general fraud and tort, and other areas have the potential to affect ICOs. ICOs are also inherently international. Securing legal opinions in every country whose laws could potentially affect the ICO would be prohibitively expensive. Even if it were possible for a startup to seek legal counsel in every jurisdiction, doing so will not guarantee that the startup will avoid legal action. Plus, countries continuously change their laws. So, the best and most ICO friendly country today may not be the same one tomorrow. For these reasons, it is essential that startups interested in launching an ICO seek advice from experts with experience in multiple jurisdictions.
The following jurisdictions are considered favorable for hosting initial coin offerings:
Nevis, Russian Federation, Switzerland, Singapore, Gibraltar, Israel, France, Spain, Lichtenstein, Luxembourg, Costa Rica, Argentina, Slovakia, Slovenia and Myanmar.