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Andorra vs Switzerland

Crypto regulation comparison

← Back to map | Andorra | Switzerland
Andorra

Andorra

Switzerland

Switzerland

Legal
Legal

Andorra enacted the Digital Assets Act (Law 24/2022) providing a comprehensive framework for crypto. The AFA licenses exchanges, custodians, and stablecoin issuers. Aligning with EU MiCA.

Switzerland is one of the world's most crypto-friendly jurisdictions. The Canton of Zug is known as 'Crypto Valley' and hosts the Ethereum Foundation and hundreds of blockchain companies. FINMA provides clear regulatory guidance, and the DLT Act (2021) created a legal framework for tokenized securities and crypto exchanges. Individual investors pay no capital gains tax on crypto, though it is included in the cantonal wealth tax base. Professional traders may be subject to income tax.

Tax Type Unclear
Tax Type Wealth
Tax Rate N/A
Tax Rate 0% capital gains (individuals); wealth tax varies by canton
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Andorran Financial Authority (AFA)
Regulator FINMA (Swiss Financial Market Supervisory Authority)
Stablecoin Rules Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules Regulated under FINMA framework; fiat-pegged stablecoin issuers must hold a banking or fintech licence (reserves treated as public deposits), or a payment system licence under FMIA if structured as financial market infrastructure
Key Points
  • Digital Assets Act (Law 24/2022) effective Oct 2022
  • AFA licenses and regulates all digital asset service providers
  • Three categories of stablecoins with specific licensing requirements
  • Low electricity costs make mining attractive
  • Aligning regulations with EU MiCA framework
Key Points
  • No capital gains tax on crypto for individual investors (private wealth management)
  • Crypto included in cantonal wealth tax base (rates vary by canton, typically 0.1-1%)
  • Professional/frequent traders may be classified as self-employed and taxed on income
  • FINMA regulates crypto under existing financial market laws and the 2021 DLT Act
  • DLT Act (2021) introduced DLT trading facility license and legal framework for tokenized assets
Sources
Sources