In the past couple of years, various European countries have positioned themselves as leaders within the world of blockchain and cryptocurrency. While a lot of companies have focused their attention on Malta, it appears that Slovenia is not far behind— with the nation’s BTC City region receiving a high-profile visitor this week.

Slovenia’s Role in Europe’s Cryptocurrency Market

For the most part, Slovenia and other Eastern European countries have been relatively quiet on the cryptocurrency front. Russia is one major exception, as the country has made it perfectly clear that it possesses mixed feelings toward both blockchain and cryptocurrency. In Ukraine, the demand for blockchain services is heating up pretty quickly with the local freelancer community embracing Bitcoin as a legitimate payment method.

It now appears that Slovenia is also making its mark on the industry. With the launch of a local initiative known as BTC City, the country is looking to solidify its position on the Bitcoin market. BTC City is one of the biggest shopping centers in Eastern Europe, and it recently received a visit from the nation’s prime minister. A big nod of approval in many regards, although there’s still plenty of work to be done.

If everything goes according to plan, BTC City will eventually evolve into a haven for Slovenian housing shops and businesses who deal with cryptocurrency transactions on a rather regular basis. Moreover, there will also be a strong focus on the development of artificial intelligence, blockchain services, and innovative payment methods at this new hub. As per some reports, local companies including Eligma, are already vying to get a piece of this market action.  

With Prime Minister Cerar taking a closer look at what the BTC City venture entails, a lot of local market speculation has ensued. It remains to be seen how government officials respond to Bitcoin in this official capacity, as there are no active cryptocurrency regulations in Slovenia. 

Final Thoughts

It is good to see more competition in the European cryptocurrency market. After a somewhat slow start, Europe has been making a somewhat positive impact on the crypto sector in the past few months. While Malta is quickly gaining a lot of traction due to various industry giants setting up offices within the small island nation, Slovenia along with Iceland is also becoming an incredibly attractive option for investors in terms of cryptocurrency mining.

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