Once of those countries is Cyprus – the tax guidance is clear:
Cryptocurrencies are not “titles” and as such, any realised gains from the purchase and sale of Cryptocurrencies of a trading nature are taxable in Cyprus at the rate of 12,5%.
However, under limited circumstances, it can be argued that the gains from Cryptocurrencies are of capital nature and hence not taxable. This will depend on the badges of trade of the specific case.
In simple terms; if a Company’s principal activity is trading in CRYPTO then standard corporate tax applies. If it is of capital nature i.e. only for investment purposes then it might be not hence a tax ruling in that case is strongly advisable.
Banking for Cryprocurrencies is another big story – banks have not initially looked at this market with a good eye, however, these “barriers to entry” as slowly coming down with more and more banks and/or PSPs allowing funds from CRYPTO coming in and out.