The global overview provides a quick comparison of legal and economic considerations for every participating country. To read more in-depth country specific information for each area, please select a country from the list.

SectionTitle
ICO / token sale
CountryDonationBasedCrowdfundingRewardBasedCrowdfundingCrowdinvestingCrowdlending
Albanianononono
Argentinanonoregulation; license requiredno
Australianonoregulation; license requiredregulation; license required
Austrianonoregulationregulation
Bosnia and Herzegovinanononono
Canadanonoregulation; license requiredregulation; license required
Chilenononono
Chinaregulation; license requirednoregulationregulation; license required
Colombianonoregulation; license requiredregulation; license required
Costa Ricalicense requiredlicense requiredlicense requiredlicense required
Croatiaregulation; license requirednoregulation; license requiredregulation; license required
Czech Republicnonoregulation; license requiredregulation; license required
Dominican Republicnoregulation; license requiredregulation; license requiredno
Egyptnononono
Franceregulation; license requiredregulation; license requiredregulation; license requiredregulation; license required
Germanynononono
Hong Kongnononono
Hungarynonoregulation; license requiredregulation; license required
Irelandnononoregulation; license required
Italynonoregulation; license requiredregulation; license required
Korea, Republic ofnonoregulation; license requiredregulation; license required
Malaysianonoregulation; license requiredregulation; license required
Mexicoregulation; license requiredregulation; license requiredregulation; license requiredregulation; license required
Montenegronononono
New Zealandnonoregulation; license requiredregulation; license required
North Macedonianononono
Perunoregulation; license requiredregulation; license requiredregulation; license required
Philippinesnonoregulation; license requiredregulation; license required
Polandnonoregulation; license requiredregulation; license required
Portugalregulationregulationregulation; license requiredregulation; license required
Romanianonoregulation; license requiredregulation; license required
Serbianononono
Slovenianonoregulation; license requiredregulation; license required
Spainnoregulation; license requiredregulation; license requiredregulation; license required
Switzerlandnonoregulation; license requiredregulation; license required
Thailandnonoregulation; license requiredregulation; license required
Turkeynonoregulation; license requiredregulation; license required
United Kingdomnonoregulation; license requiredregulation; license required
United Rep of Tanzanianononono
United Statesnonoregulation; license requiredregulation
Uruguaynonolicense requiredno
Question Text
Regulation of ICOs and token/coins and requirement of a license to issue token/coins or trade in token/coins
CountryAnswer Text
Albaniaregulation; license required2170Albania
Argentinano2515Argentina
Australiaregulation; license required2185Australia
Austriaregulation2680Austria
Bosnia and Herzegovinano2200Bosnia and Herzegovina
Canadaregulation; license required2155Canada
Chileno2245Chile
Chinaregulation2260China
Colombiano2275Colombia
Costa Ricano2290Costa Rica
Croatiano2305Croatia
Czech Republicno2815Czech Republic
Dominican Republicno2826Dominican Republic
Egyptn/a2320Egypt
Franceregulation2725France
Germanyregulation2216Germany
Hong Kongregulation2740Hong Kong
Hungaryno2350Hungary
Irelandno2695Ireland
Italyregulation; license required2335Italy
Korea, Republic ofno2365Korea, Republic of
Malaysiaregulation; license required2665Malaysia
Mexicono2635Mexico
Montenegrono2380Montenegro
New Zealandregulation; license required2395New Zealand
North Macedoniano2440North Macedonia
Peruno2425Peru
Philippinesno2410Philippines
Polandno2485Poland
Portugalregulation2500Portugal
Romaniano2800Romania
Serbiaregulation; license required2470Serbia
Sloveniano2530Slovenia
Spainno2545Spain
Switzerlandno2710Switzerland
Thailandregulation; license required2560Thailand
Turkeyno2755Turkey
United Kingdomno2785United Kingdom
United Rep of Tanzaniano2770United Rep of Tanzania
United Statesregulation2590United States
Uruguayno2575Uruguay
Question Text
Difficulty of upholding compliance with the regulation regarding ICOs and token/coin sales
CountryAnswer Text
Albaniaaverage2170Albania
Argentinan/a2515Argentina
Australiaaverage2185Australia
Austriahard2680Austria
Bosnia and Herzegovinan/a2200Bosnia and Herzegovina
Canadahard2155Canada
Chileeasy2245Chile
Chinan/a2260China
Colombian/a2275Colombia
Costa Ricahard2290Costa Rica
Croatian/a2305Croatia
Czech Republichard2815Czech Republic
Dominican Republichard2826Dominican Republic
Egyptn/a2320Egypt
Franceaverage2725France
Germanyhard2216Germany
Hong Konghard2740Hong Kong
Hungaryeasy2350Hungary
Irelandaverage2695Ireland
Italyaverage2335Italy
Korea, Republic ofhard2365Korea, Republic of
Malaysiahard2665Malaysia
Mexicoaverage2635Mexico
Montenegron/a2380Montenegro
New Zealandaverage2395New Zealand
North Macedoniaeasy2440North Macedonia
Perun/a2425Peru
Philippinesaverage2410Philippines
Polandn/a2485Poland
Portugalaverage2500Portugal
Romaniaaverage2800Romania
Serbiaaverage2470Serbia
Sloveniaeasy2530Slovenia
Spainhard2545Spain
Switzerlandeasy2710Switzerland
Thailandhard2560Thailand
Turkeyn/a2755Turkey
United Kingdomaverage2785United Kingdom
United Rep of Tanzanian/a2770United Rep of Tanzania
United Stateshard2590United States
Uruguayn/a2575Uruguay
Question Text
Level of competition regarding ICOs and token/coin sales
CountryAnswer Text
Albanialow2170Albania
Argentinalow2515Argentina
Australiaaverage2185Australia
Austrialow2680Austria
Bosnia and Herzegovinan/a2200Bosnia and Herzegovina
Canadahigh2155Canada
Chileaverage2245Chile
Chinan/a2260China
Colombialow2275Colombia
Costa Ricalow2290Costa Rica
Croatian/a2305Croatia
Czech Republiclow2815Czech Republic
Dominican Republicn/a2826Dominican Republic
Egyptn/a2320Egypt
Francelow2725France
Germanyaverage2216Germany
Hong Kongaverage2740Hong Kong
Hungarylow2350Hungary
Irelandaverage2695Ireland
Italyaverage2335Italy
Korea, Republic oflow2365Korea, Republic of
Malaysialow2665Malaysia
Mexicolow2635Mexico
Montenegron/a2380Montenegro
New Zealandlow2395New Zealand
North Macedonialow2440North Macedonia
Perun/a2425Peru
Philippinesaverage2410Philippines
Polandlow2485Poland
Portugalaverage2500Portugal
Romanialow2800Romania
Serbialow2470Serbia
Sloveniaaverage2530Slovenia
Spainlow2545Spain
Switzerlandhigh2710Switzerland
Thailandlow2560Thailand
Turkeyhigh2755Turkey
United Kingdomlow2785United Kingdom
United Rep of Tanzanialow2770United Rep of Tanzania
United Statesn/a2590United States
Uruguayn/a2575Uruguay

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