Andorra vs Oman
Crypto regulation comparison
Andorra
Oman
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.
Oman has moved to regulate cryptocurrency with the Capital Market Authority issuing a Virtual Assets Regulatory Framework in 2023. VASP licensing is being implemented, and Oman has attracted crypto mining operations due to its energy resources. There is no personal income or capital gains tax in Oman.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Andorran Financial Authority (AFA)
Regulator
CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Stablecoin Rules
Regulated under Digital Assets Act with specific stablecoin licenses
Stablecoin Rules
Under development within CMSA virtual asset framework
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
- CMA issued the Virtual Assets Regulatory Framework in 2023
- VASP licensing regime being implemented under CMA oversight
- No personal income or capital gains tax in Oman
- Oman has attracted large-scale crypto mining operations leveraging its energy sector
- CBO has issued warnings but not banned crypto for individuals