Disclaimer: I’m not a legal or financial expert under the law and this article is for educational purposes.
A partial history of British Tax Havens is given in this source from Norbert Braspenning. According to Norbert, the notion of an offshore transaction legally means that a person sitting in London can execute some tasks and, with a proper legal arrangement, the task can be legally viewed as occurring in some other tax-favorable jurisdiction.
Bitcoin recently reached an all-time high of over 40k USD per coin. As a typical US citizen, I must comply with KYC regulations and various taxes if I were to sell at a profit. According to several sources, including Nomad Capitalist, offshore strategies are also applicable to US citizens. With a proper legal structure, it may be possible to reduce or eliminate such taxation and also to improve the anonymity of cryptocurrency ownership. Such benefits may extend to varying degrees out of cryptocurrency transactions to other kinds of transactions.
Technically an overseas business entity would purchase, hold, utilize, and sell cryptocurrency in these strategies. Other benefits beyond tax minimization are notable. I stake CRO using a personal account, but financial regulation prevents me from accessing the related Crypto.com Exchange. I believe that exchange allows better staking return rates, lower crypto purchase rates, lower fees, and perhaps some other benefits which could improve total return. If I were to register an overseas account, I believe that an offshore entity could leverage the exchange and eventually earn and spend on my behalf or pass money back to me as an owner, investor, employee, client, or by gifting, or through some other legal and tax-minimizing manner.