Argentina vs Saudi Arabia
Crypto regulation comparison
Argentina
Saudi Arabia
Legal
Restricted
Cryptocurrency is legal in Argentina and widely adopted due to persistent inflation and currency controls. The CNV regulates crypto service providers under a 2024 registration framework. Argentina has one of the highest crypto adoption rates globally, with stablecoins used as a hedge against peso devaluation.
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
Tax Type
Income
Tax Type
None
Tax Rate
5% (peso-denominated) / 15% (foreign currency)
Tax Rate
0%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
CNV (Comisión Nacional de Valores), BCRA
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules
No specific stablecoin regulation; USD-pegged stablecoins widely used informally
Stablecoin Rules
No regulation; crypto trading not authorized
Key Points
- CNV registered as the regulatory authority for virtual asset service providers (VASPs) under FATF guidelines
- Crypto gains taxed as income under the income tax law at progressive rates
- High adoption driven by inflation and capital controls on the Argentine peso
- Exchanges must register with the CNV and comply with AML/KYC requirements
- No legal tender status for crypto; the peso remains the only legal tender
Key Points
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)