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Andorra vs Madagascar

Crypto regulation comparison

← Back to map | Andorra | Madagascar
Andorra

Andorra

Madagascar

Madagascar

Legal
No Regulation

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.

Madagascar has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto. Crypto operates in a legal gray area.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Andorran Financial Authority (AFA)
Regulator Banque Centrale de Madagascar
Stablecoin Rules Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules No stablecoin regulation
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 specific cryptocurrency legislation
  • Central bank has not issued formal crypto guidance
  • Crypto not recognized as legal tender
  • Limited crypto adoption and infrastructure
  • No licensing framework for crypto businesses
Sources
Sources