Armenia vs Marshall Islands
Crypto regulation comparison
Armenia
Marshall Islands
Legal
Legal
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.
The Marshall Islands passed the Sovereign Currency Act in 2018 to create the SOV, a blockchain-based national digital currency. No income or capital gains tax.
Tax Type
Capital gains
Tax Type
No tax
Tax Rate
0% (non-entrepreneur) / 10-20% (business)
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Armenia
Regulator
Banking Commission of the Marshall Islands
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
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
Key Points
- Sovereign Currency Act (2018) created SOV digital currency
- No income or capital gains tax
- Has been a popular jurisdiction for DAO registration
- Banking Commission provides oversight
- Limited domestic crypto adoption