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Andorra vs Vatican City

Crypto regulation comparison

Andorra

Andorra

Vatican City

Vatican City

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.

Vatican City has no cryptocurrency regulation. The micro-state's financial system is focused on the Holy See's financial activities. ASIF provides financial oversight.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator Andorran Financial Authority (AFA)
Regulator ASIF (Supervisory and Financial Information Authority)
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
  • ASIF provides financial oversight for the Holy See
  • Micro-state with very limited financial market
  • No crypto exchanges or services
  • AML/CFT framework aligned with international standards