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United Arab Emirates vs Bahamas

Crypto regulation comparison

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

United Arab Emirates

Bahamas

Bahamas

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.

The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.

Tax Type None
Tax Type No tax
Tax Rate 0%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator VARA (Dubai), ADGM/FSRA (Abu Dhabi), SCA (Federal), CBUAE
Regulator Securities Commission of the Bahamas (SCB)
Stablecoin Rules VARA regulates stablecoins in Dubai; ADGM has separate framework
Stablecoin Rules Regulated under DARE Act 2024; algorithmic stablecoins banned
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
  • DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
  • Securities Commission of the Bahamas licenses and supervises digital asset businesses
  • No income tax, capital gains tax, or crypto-specific taxes
  • Sand Dollar CBDC launched in 2020 as one of the world's first
  • FTX collapse in 2022 led to enhanced scrutiny and regulatory updates
Sources
Sources