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United Arab Emirates vs Armenia

Crypto regulation comparison

← Back to map | United Arab Emirates | Armenia
United Arab Emirates

United Arab Emirates

Armenia

Armenia

Legal
Legal

The UAE has become a global crypto hub with multiple regulatory frameworks. Dubai's VARA (Virtual Assets Regulatory Authority), established in 2022, is the world's first dedicated crypto regulator and licenses exchanges, brokers, and other VASPs. Abu Dhabi's ADGM regulates crypto through the FSRA. The federal SCA also oversees crypto at the national level. The UAE has no personal income or capital gains tax. Major global exchanges (Binance, Bybit, OKX, Crypto.com) have obtained UAE licenses.

Armenia adopted a comprehensive Law on Crypto Assets in May 2025, effective July 2025, modeled on the EU's MiCA. The Central Bank of Armenia licenses crypto service providers. Non-entrepreneur crypto gains are tax-free (0%); ECOS Free Economic Zone offers incentives for blockchain startups. Licensing enforcement begins January 2026.

Tax Type None
Tax Type Capital gains
Tax Rate 0%
Tax Rate 0% (non-entrepreneur) / 10-20% (business)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator VARA (Dubai), ADGM/FSRA (Abu Dhabi), SCA (Federal), CBUAE
Regulator Central Bank of Armenia
Stablecoin Rules VARA regulates stablecoins in Dubai; ADGM has separate framework
Stablecoin Rules No specific stablecoin regulation
Key Points
  • VARA (Dubai) — world's first standalone virtual asset regulator; comprehensive licensing framework
  • ADGM/FSRA (Abu Dhabi) — separate regulatory framework for digital assets in the financial free zone
  • No personal income tax or capital gains tax in the UAE
  • 9% corporate tax (from 2023) may apply to crypto businesses but not individual investors
  • Major exchanges licensed: Binance, Bybit, OKX, Crypto.com, BitOasis
Key Points
  • Law on Crypto Assets adopted May 2025, effective July 2025
  • Central Bank of Armenia licenses all crypto service providers
  • 0% capital gains tax for non-entrepreneur crypto transactions
  • Framework modeled on EU MiCA regulation
  • Licensing enforcement begins January 31, 2026
Sources
Sources