21 Crypto Tax-Free Countries in 2025

When it comes to crypto and tax, location does matter. While most countries impose strict capital gains and income taxes on digital asset transactions, others offer zero or near-zero rates. To maximize your crypto wealth, you might want to identify crypto tax-free countries since the level of payable taxes and the bureaucracy involved could curtail your financial freedom.

Considering that some countries offer tax incentives to cryptocurrency investors and have clear rules, this guide dissects the top countries with no crypto tax, including their tax policies and how you can benefit from them.

Top 21 Countries With No Crypto Taxes in 2025

While crypto-friendly countries may allow you to own and trade digital assets within their jurisdiction, the rubber meets the road when it comes to taxation. Among the countries we mention here, some don’t have capital gains tax or income taxes, which make crypto gains completely tax-free. In contrast, others treat digital assets as nontaxable capital or use territorial taxation that ensures foreign-sourced cryptocurrency income isn’t taxed domestically. Sometimes, you must become a tax resident to enjoy tax-free crypto since merely investing there may not be enough.

In crypto tax havens, they offer clear rules and tax incentives, and some have strong legal infrastructure that encourages seamless crypto trade and investment.  Here is our list of countries where you can deal with tax-free crypto:

1. Portugal

Portugal is the first country on our list with no crypto tax and is considered one of the most Bitcoin-friendly countries globally. The country offers a Golden Visa program that enables investors to obtain residency if they plan to make a significant investment, including cryptocurrencies.

Portugal is famous for offering an extremely low tax environment for crypto investors, including zero tax on crypto-to-crypto trading. Currently, the country is the go-to destination for blockchain and crypto startups, with thousands of digital nomads and investors landing there for the double blessing of a good quality of life and existing investment opportunities. 

2. Singapore   

Singapore is considered one of the best crypto tax havens in the world today. It is among those countries with no capital gains tax and a dynamic business ecosystem. The local government provides clear, easy-to-understand crypto rules and regulations that have created a thriving environment for blockchain, crypto exchanges and crypto startups to grow and develop.

The combination of a robust Fintech industry and a progressive attitude has made Singapore the choice destination for investors interested in cutting-edge innovation and a crypto-friendly tax regime. Crypto investors are relocating to Singapore in large numbers to enjoy the tax breaks and take advantage of a thriving fintech space.

3. Germany    

Germany makes it to this list because, compared to other countries, the government has an incomparable attitude towards cryptocurrencies. Under German law, digital assets are considered private money, meaning they cannot be compared to other assets like goods or stocks. Moreover, Germans can enjoy tax-free crypto for a whole year if they simply store it, no matter what the amount.

Additionally, any crypto asset stored for less than a year can be sold, and residents will not incur income taxes unless the amount they earn exceeds USD 692 or EUR 600.  This situation is unique to cryptocurrency investment because all other businesses and startups registered by foreigners in the country must pay corporate income on all their cryptocurrency investments.

4. El Salvador 

El Salvador is among the pioneer crypto tax havens, having been the first country to adopt Bitcoin as legal tender in 2021. The day-to-day use of BTC is treated like fiat currency under the country’s law; cryptocurrencies are not subjected to capital gains tax. Investors don’t incur capital gains tax or income tax on earnings from Bitcoin investment, with a robust crypto framework supported by a pro-crypto president and plans for a “Bitcoin City” in place.

Any crypto-focused business pays regular corporate tax for any non-crypto income, but BTC transactions themselves are tax-free, in addition to some tax break incentives for tech innovations. Crypto investors are incentivized with a special residency program where investing 3 BTC qualifies one for permanent residency or “Bitcoin Citizenship,” available for a $1 million investment or donation.    

5. Switzerland

It’s in Switzerland that you find a location officially called the “Crypto Valley,” meaning in addition to everything else, crypto investors enjoy tax benefits under existing laws. Any qualified individual who profits from crypto transactions through trading or investment is exempt from local income tax laws. Cryptocurrency mining is the only aspect of digital asset investment that is taxed. However, the applicable tax applies to the total amount of BTC mined and is added to the miner’s taxable value.

Switzerland is famous for its solid-rock economy, making it a dream destination for crypto investors seeking stability. Hundreds of blockchain and crypto companies call the Zug Valley home, where they enjoy an ecosystem that thrives on innovation and business-friendly policies. Swiss crypto regulations are clear and transparent and include extremely low tax rates on crypto profits.

6. Malta             

Also known as the “Blockchain Island,” Malta is one of the most progressive countries in its stance on blockchain and crypto technologies. Crypto investors can earn the island’s citizenship through investment, meaning they get access to the European Union market and enjoy the tax advantages granted to investors on their crypto gains.

The luxurious Mediterranean lifestyle and a dynamic blockchain and crypto sector make Malta an attractive destination for individuals interested in blending work, play, and crypto investment. Malta’s progressive approach to cryptocurrency regulation and attractive incentives make the country an appealing choice if you’re looking for a place to invest in crypto and enjoy a life of freedom.

7. Belarus

Since 2018, Belarus has progressively pursued favorable crypto-centric policies towards cryptocurrencies. It has also adopted a regulatory policy that has completely legalized crypto trade and investment activities in the country. Part of the regulations abolished all forms of taxes associated with crypto activities beginning in 2023.

According to Belarusian laws, crypto investments are considered personal and are, therefore, not subject to any form of taxation. The tax laws aim to incentivize the country’s digital economy by creating favorable conditions that attract investment. The move may also have been influenced by the fact that Belarus was ranked the 19th best overall country in the world in terms of cryptocurrency investment and trading in 202.

8. Cayman Islands

The Cayman Islands are among the world’s full-fledged crypto tax havens where individual and corporate investors can thrive. Note that crypto activities of any form aren’t subject to taxation on this territory, whether you’re an individual or a company selling cryptocurrency. This favorable tax policy makes the Cayman Islands the go-to place for crypto firms.

There is no direct taxation in this destination, meaning you’ll never hear anything about income tax, capital gains tax, corporation tax, property tax, inheritance tax, or payroll tax on crypto. Moreover, the country has no reporting requirements associated with crypto holdings or gains for taxation purposes. 

9. Malaysia

Like many other crypto-friendly countries globally, Malaysia has no capital gains tax on any crypto investment, making it a prime destination for potential investors. Then, there is a special economic zone, the Labuan International Business Centre, a crypto-focused economic zone offering attractive inventions for digital asset investors.

All companies operating from Labuan can pay a fixed annual fee or a flat 3% tax on all their audited net profits. However, since this arrangement doesn’t work on all crypto-related businesses, you want to research to ensure yours qualifies for incentives offered under Labuan’s regulations.

10. United Arab Emirates

No other country in the world is on fire for crypto like the United Arab Emirates. Tax-free zones like the Dubai Multi Commodities Centre (DMCC), specializing in digital businesses, are ideal for investors with zero-Dubai crypto tax. That’s because crypto investors in the UAE are exempt from capital gains or income tax, meaning you can keep everything you earn.

The friendly environment in the UAE has made the city-state the go-to hub for digital innovators. The city hosts many modern projects within the blockchain and cryptocurrency spaces. The ultra-fast economy and world-class infrastructure have made Dubai a desired destination for any crypto enthusiast. 

11. Georgia

Georgia has cut a niche for itself as the most crypto-friendly destination in Eastern Europe. It offers a clearly spelled-out legislated tax exemption policy for crypto investment, with individuals completely exempted from taxation on crypto gains. The policy is designed to attract Blockchain and IT innovation.

Since there is a 0% tax on individual crypto profits, you can buy, sell, or hold crypto and won’t be liable for any taxes. Businesses are subject to a flat 15% corporate tax on profits, but corporations can reinvest crypto gains tax-free until distribution. Georgia has a liberal visa policy enabling investors to reside in the country for up to one year as they work on their residency papers. 

12. Puerto Rico

Also called America’s “Crypto Tax Paradise,” Puerto Rico has long had a 0% tax policy on crypto gains. However, the Puerto Rico legislature recently passed a bill that imposes a measly 4% tax on capital gains. The territory home to many crypto millionaires is under immense pressure from the US Congress to seal the “loophole” that has made it an attractive place for crypto investors.

At the moment, individual investors don’t pay any capital gains tax on digital assets or any other investment profits once they become residents. Once a resident, you can buy, sell, or hold crypto and keep all your earnings tax-free. Corporations are subject to a 4% corporate tax with a few exemptions, which makes them attractive to many crypto funds. 

13. Hong Kong  

Hong Kong prides itself on being a revered crypto-friendly hub within the Asian subcontinent. It offers clearly spelled-out no-taxes on capital gains derived from cryptocurrencies and tax-free trading for well-structured offshore businesses. The City-state stands apart from other Asian jurisdictions due to its open approach to crypto compared to Mainland China’s restrictive approach.

The lack of capital gains tax gives crypto traders a natural advantage because they don’t have to apply for special exemptions. Important factors that differentiate crypto trading from investment, such as holding period, frequency of transactions, and others, determine whether you qualify to receive tax-free incentives in Hong Kong. 

14. Bermuda    

Bermuda remains open to crypto investors and was among the first governments globally to accept crypto taxes. For digital asset investors, there is no capital gains tax or personal income tax and no withholding tax on crypto investment income. All your profits here on trade or investment aren’t taxed for individuals.

Since Bermuda levies payroll tax on employees’ salaries instead of tax corporate profits, crypto companies in the country don’t pay income tax or profit taxes, which is why many fintech firms and exchanges choose Bermuda as the place to open and run their businesses. The country has no citizenship-by-investment program, but one must demonstrate financial independence before residing.  

15. British Virgin Islands  

The British Virgin Islands (BVI) is a popular, renowned offshore financial hub because of its flexible regulations for blockchain and crypto enterprises. BVI operates a tax-neutral policy, meaning there are no capital gains taxes, withholdings, or income taxes associated with any crypto transactions. While businesses are not obligated to file income tax returns, they’re required by law only to make an annual economic and substance declaration.

The country doesn’t impose taxes on users establishing offshore bank accounts, as it doesn’t have tax treaties with any other nation. This means users’ financial privacy in bank accounts remains protected. This makes it easier for crypto businesses incorporated in BVI to transfer their profits to any other company or trading investment while protecting their financial privacy.

16. Slovenia      

Slovenia has long been a crypto-friendly country, but changes could be coming soon. The government recently introduced a 10% tax on crypto-based payments and withdrawals for private individuals. The tax applies when one converts crypto to fiat currency to pay for goods and services.

On the positive side, capital gains tax isn’t applicable for the occasional crypto trade. Still, a slightly different set of rules applies if you run a business that trades crypto frequently. However, Slovenia doesn’t levy capital gains tax on crypto profits as long as the government doesn’t consider your trading a business activity. Income from staking or crypto mining is subject to income tax.

17. Panama

Panama operates a 0% crypto tax treatment policy for foreign-sourced crypto gains, meaning the territorial tax system only taxes income earned within the country. All profits made from crypto trading or investment are considered foreign-sourced income if you use an international exchange and are, therefore, not subject to local taxes.

There is no capital gains tax levied on crypto, but domestic securities are subject to a low 10% tax, and crypto isn’t considered a security. Additionally, the country doesn’t impose VAT on crypto purchases or any other taxes on crypto transactions. Residing in Panama allows you to trade crypto globally and receive zero taxes.

18. South Korea   

In addition to being one of the most crypto tax-free countries in the world, South Koreans also rank among the most active and enthusiastic crypto traders and users, leading in terms of digital asset adoption. Relative to its population, the country has the largest number of users, crypto exchanges, and merchants accepting cryptocurrency as a form of payment.

The South Korean government legalized crypto activities, requiring crypto service providers to obtain licenses under the Act on Reporting and Use of Specific Financial Transaction Information. This Act requires them to partner with local banks to offer real-name accounts to their customers. Taxes on crypto profits are charged at a flat rate of 20%.

19. Saint Kitts and Nevis  

Like a few other Bitcoin-friendly countries, St. Kitts and Nevis operates a 0% tax policy on crypto gains and no capital gains or income tax for individuals. That means all your crypto trading or investment profit isn’t taxed.  Individuals who structure their crypto businesses by operating under a locally registered entity aren’t subject to taxes on the income accrued through those firms.

The federation does not tax foreign-sourced income, and it includes cryptocurrency activities when you trade on an international exchange. Businesses do not pay corporate or income tax, but they may incur some fees and a business tax if incorporated locally. St. Kitts and Nevis runs a dynamic citizenship-by-investment program if you can invest or donate at least $150K. You must only obtain a passport to maintain citizenship or tax-free status.   

20. Vanuatu

The South Pacific Ocean island of Vanuatu is not only a fancy place to live in but also one of the countries without crypto. The country is perhaps the first and only country to offer citizenship and accept Bitcoin payments for it, in addition to offering one of the fastest investment immigration programs globally.

When it comes to crypto regulation, investors can acquire citizenship through a BTC investment, making Vanuatu the ideal place for the prospective crypto immigrant investor. Through investment, you qualify to receive a Vanuatu passport. Moreover, Vanuatu is considered among the easiest places on earth for one to receive investment citizenship.

21. Gibraltar

Gibraltar is known for its crypto-friendly status and progressive regulations that fully support the digital asset economy. The country’s Financial Services Commission supervises crypto businesses under a competitive tax regime that offers numerous advantages to crypto companies.

Registering a crypto company is fast and straightforward, meaning you can begin operations almost immediately. Plus, there are clear guidelines to support compliance with local laws and prevent money laundering. The country’s supportive regulatory approach and low taxation regime has become the magnet for worldwide crypto business. The government charges a 10% corporate tax on crypto trading, but capital gains tax is not levied on crypto investments.

Common Crypto Tax Mistakes to Avoid    

Filing taxes related to crypto use, trade, or investment can look complex, but you can make the process more manageable by knowing the common mistakes to avoid. You could also look for professional help if you’re unsure or find it challenging to avoid making potential mistakes. Here are some common pitfalls to prevent when filing your crypto taxes:

• Failure to Report Crypto Transactions: Many tax regimes treat cryptocurrencies as property, so you must report all your transactions. This could include selling crypto for cash or exchanging it for another type of crypto, including the smallest transactions.
• Ignore Taxable Events: While not all crypto activities may be taxable, most are. The most common taxable events include selling or exchanging crypto and using digital assets to make payments while holding crypto, which may not attract taxes—research taxable events in your jurisdiction.
• Miscalculate Gains and Losses: Keeping a record of gains and losses can be a challenge, but it’s important to track your cost basis accurately, as it will determine your profit or loss when you sell and applicable taxes. You can make this easier by using reliable software to track crypto to help with accurate reporting.
• Failure to Keep Good Records: Poor records always lead to complications when filing taxes. Make it easier for yourself by maintaining a detailed log of crypto-based transactions. Correct documentation is handy if your local tax agency ever audits you.
• Overlook Tax Deductions: If you’re ignorant, you may be unaware that you qualify for specific tax deductions as a crypto investor. Familiarize yourself with local taxes and applicable deductions to help reduce your tax burden and maximize refunds.

What Makes a Country Crypto-Friendly?

Before you rush to open a crypto business or account in a country where you saw an advert stating it’s one of the most crypto-friendly countries in the world, you need to remember that all that glitters isn’t gold. You want to avoid making a wrong choice because it could cost you dearly. When all is said and done, what matters most is how a country treats digital assets in practice. Irrespective of what you’re looking for, the following should be non-negotiable when looking for a crypto-friendly country:                                            

1. Favorable tax policies for crypto holders  

Clearly defined tax policies and favorable tax structures should be at the forefront. Look for countries that offer exemptions on capital gains or relatively low-income tax rates subjected to your crypto earnings. Reduced tax rates for crypt investments and transactions make a country attractive to crypto enthusiasts and long-term investors. Panama and Portugal are examples of jurisdictions where you don’t have to second guess on taxation matters.

2. Clear and supportive regulations

A crypto-friendly country has clearly defined cryptocurrency rules, so individuals and businesses know their parameters. In addition to being clear, the laws need to support digital asset use, trading, and investment to eliminate any uncertainty for retail and corporate investors. A country with a well-defined regulatory framework that supports blockchain technology and crypto applications fosters trust and accelerates crypto adoption. For example, Dubai has clear crypto laws and regulations, making it easier for investors to understand the licensing requirements they need.

3. Strong financial and crypto infrastructure

Look for a country that has created or facilitated the creation of a robust crypto-friendly infrastructure that encourages the development of blockchain and crypto-related businesses. Crypto-friendly infrastructure includes many cryptocurrency exchanges, blockchain startups, Bitcoin ATMs, and many institutions that accept crypto payments, as all these are critical to adoption, growth, and usability. Such a country should have banks and fintech firms that understand crypto, not where digital asset operators are treated like suspected criminals.

What are the Worst Countries for Crypto Tax?

How cryptocurrencies are taxed from one country to another depends on how the governments treat them. Some governments treat crypto as assets and make them subject to capital gains tax and other tax rules that could apply. The following is an overview of the countries with among the highest cryptocurrency taxes globally:

1. The Netherlands

The Netherlands has classified crypto as an asset class, and it is, therefore, subject to taxes similar to other regular assets. According to Dutch laws, cryptocurrencies are subject to income taxes, wealth taxes, and gift taxes when they exceed a given figure. By levying 36% on unrealized fictitious gains, the Netherlands aptly fits the title of one of the non-crypto-friendly countries in the world.   

2. Spain  

Spain notoriously tops the list of the countries with the highest taxes on crypto investments at 47% for high investors, meaning any investor must think twice before setting foot in that country. Crypto traders are also subjected to a wealth tax if they have assets worth more than €700,000. Moreover, the tax body can only use 25% of your net losses to reduce capital gains. Plan carefully if you consider Spain a potential investment destination for your crypto business.

3. India

The Government of India imposes a 30% levy on all income generated from crypto and any virtual asset-related business with no possibility of exemptions or deductions. India is home to millions of tech-savvy professionals interested in crypto investment, but the crypto tax laws have remained a significant detriment.  Veteran Indian crypto traders remain hopeful that the government could soften its hard stance to make the environment more favorable.

4. Denmark    

Danish crypto investors are subject to taxes on personal incomes typically exceeding 40%. Moreover, taxpayers are only allowed to offset 30% of their losses when filing taxes. These and other factors make Denmark among the least attractive destinations for crypto investors.

5. Brazil  

Brazil may have the highest digital asset adoption rates in Latin America, but the country’s cryptocurrency laws, aimed at fighting criminal infiltration, end up hurting legitimate crypto businesses and retail traders. The government has among the world’s highest crypto taxes and fees, which have ended up messing up the crypto-loving populations.

6. South Africa   

Engaging in cryptocurrency trade or investment is subject to income tax or capital gains tax in South Africa based on whether your transaction is classified as a trade or an investment. Unfortunately, there are no clear guidelines to help make that distinction, meaning an incorrect classification could cost thousands of dollars. The applicable taxes range from 18% to 45%, with capital gains being taxed at a maximum of 18%.

7. China  

Since banning all crypto transactions in September 2021, there has been little progress in the crypto situation in China. For a country that seems to be at the forefront of technological development, China scores very low marks when it comes to protecting crypto users and investors. The progressive country shares a complete crypto-ban stance with countries like Algeria, Qatar, Oman, Iraq, Morocco, Tunisia, and Bangladesh, among others.

8. Australia

The Australian government treats cryptocurrencies as property, meaning they are subject to capital gains tax. Small personal transactions are exempt, but for larger transactions, you must remit taxes ranging from 18% to 45% of your profits. Traders and investors are obliged to report when filing tax returns if they have sold, traded, or earned from crypto during the year in question.   

9. France

The French government may be supportive of blockchain-based business, but the story is quite different when it comes to taxation. There are applicable taxes for crypto investments at a flat rate of 30%. Professional investors, on the other hand, are subjected to a progressive tax scale whose combined income tax and social security contributions can go as high as 60%.

How Is Crypto Taxed?

Like every other asset, cryptocurrency investment comes with its own unique set of tax obligations. Because of its unique features, cryptocurrencies stand apart from other investment types, and many tax agencies treat them differently. In our general breakdown of how cryptocurrencies are taxed, we differentiate between taxable and nontaxable events.

Nontaxable Events

• Buy Crypto with cash and holding: Buying cryptocurrency with money and holding it in your crypto wallet doesn’t incur any taxes. Taxes become applicable when you decide to sell and realize some gains.
• Donate Crypto: You can claim charitable deductions when you donate crypto to qualified tax-exempt non-profits or philanthropic organizations.
• Receive a Crypto Gift: You don’t incur tax by receiving a crypto gift until you decide to sell it or use it for a taxable activity such as staking.
• Give a Gift: You can give a crypto gift up to a determined amount per year in most jurisdictions without incurring taxes. However, you become liable for taxes if the gift exceeds the set amount.
• Transfer Crypto to Yourself: You can transfer cryptocurrencies to your crypto wallets without worrying about taxes.

Taxable as Capital Gains

• Sell Crypto for Cash: You owe taxes any time you sell cryptocurrency and receive cash. However, you could make a deduction on your taxes if you sold at a loss.
• Convert one Cryptocurrency to Another: For example, if you use Ether to buy Bitcoin, you have technically sold your Ether, and the tax body will demand a tax if you make a profit.
• Spend Crypto for Payment: If you buy goods and services and pay with Bitcoin, you will most likely owe tax based on that transaction.

Taxable as Income

• Get Pain in Crypto: If your employer pays your salary in crypto, you should expect to be taxed in line with your income tax bracket.  
• Receive Crypto for Goods and Services: When customers pay you in crypto for goods and services, you’re responsible for reporting income for taxation.
• Mine crypto: If you mine crypto as a business, you likely owe taxes on your earnings because it’s considered self-employment income.
• Earn Staking Rewards: Governments treat staking rewards the same way they treat proceeds from mining crypto.
• Earn other Income: Any rewards you earn by holding crypto are taxable.
• Get an Airdrop: If you receive a cryptocurrency airdrop from a giveaway or marketing campaign, it counts as taxable income.
• Receive Rewards or Incentives: If you receive crypto for any reason, time and space may not allow us to mention, whether it’s rewards for learning, referring others, or other incentives, you need to report it as income and pay tax on it.

Conclusion  

There is increasing regulatory scrutiny surrounding crypto investment in many jurisdictions. Heavy taxation can become an headache for individuals or companies running crypto businesses. However, with careful research, you can locate crypto tax havens like the established offshore centers we have mentioned, like BVI or the Cayman Islands, or emerging ones like Portugal and El Salvador,

Many countries with no crypto tax offer extra benefits. These include residencies through citizenship-by-investment programs that let you relocate to countries running such programs. You can also get special European visas designed for digital asset investors.

Since the tax-free crypto landscape is dynamic and constantly evolving, you want to keep learning so you can stay updated on the latest regulatory changes. For example, Puerto Rico has an upcoming 4% crypto tax targeting new residents, and Portugal has an upcoming short-term gains tax.

FAQs                                                                                                   

How do I avoid crypto taxes?  

While every investor comes from a slightly different background, there are common tactics you can use to reduce your crypto tax burden, including:

• HODL your crypto: If you can avoid seeking fast gains, consider HODLing your assets for at least a year to enjoy lower long-term capital gains.
• Invest in Retirement Plans: Research crypto-backed retirement investments offering tax advantages.
• Donate to Charity: Donate to charitable organizations and reduce your tax liability in the process. Donations are tax deductible and exempt from capital gains tax.

Which country is best for cryptocurrency?

A crypto-friendly country is one that fosters an environment promoting blockchain and cryptocurrency. It provides legal clarity, reduces tax burdens if any, and encourages innovation. Currently, most people agree that Portugal is among the best places to live and work if you want to invest in crypto. Others include Switzerland, Singapore, The United Arab Emirates and Malta.

Which country has the cheapest crypto tax?

Investors agree that Singapore is the leading crypto tax haven for both retail and business investors. It doesn’t have a capital gains tax, meaning investors are not liable for taxation.

Is Dubai crypto tax-free?

For individual investors, there’s nothing like the Dubai crypto tax. The government doesn’t levy personal income or capital gains tax, irrespective of how you earn your money.

Are there countries with no capital gains tax on crypto?

Several countries do not tax capital gains on crypto, led by Singapore, the Asian tax haven for cryptocurrency holders, whether individuals or companies. Other countries in this category include Monaco, UAE, Singapore, Malts, Portugal, Gibraltar, and Hong Kong.

What are the most crypto tax-friendly states in the United States? 

A number of US States are generally crypto-friendly since they don’t have specific tax-related regulations and have overall low crypto tax burdens. These states include Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming, which have friendly taxes for crypto-related businesses.  

Is Japan crypto-friendly?

The situation in Japan is a two-edged sword. Japan has relatively progressive crypto regulations, but its crypto tax system is notoriously harsh, with profits taxed at rates as high as 55%.

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