I think it is more simple to have bussiness in small country when everybody knows each other. It will be more simple to get all licenses.
A lot of depends from goverment authorities. If gorverment authorities regulate crytpocurrency it is more simple to work for crypto startups their.
Cryptocurrency markent develops very quickly and price for cryptocurrencies raise. Regulators start to pay more attention for regulation of crytpocurrency.
. That is why cryptocurrency is so popular now
.