Australia vs Maldives
Crypto regulation comparison
Australia
Maldives
Legal
Restricted
Cryptocurrency is legal and well-regulated in Australia. AUSTRAC oversees AML/CTF compliance for exchanges, ASIC handles consumer protection, and the ATO treats crypto as property for tax purposes. Australia has been developing a comprehensive licensing framework for digital asset platforms.
The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.
Tax Type
Capital gains
Tax Type
None
Tax Rate
0-45%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
ASIC, AUSTRAC, ATO
Regulator
Maldives Monetary Authority (MMA)
Stablecoin Rules
Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules
No stablecoin regulation
Key Points
- Digital currency exchanges must register with AUSTRAC and comply with AML/CTF Act
- ATO treats cryptocurrency as a CGT asset; holding for 12+ months qualifies for 50% discount
- ASIC regulates crypto products that qualify as financial products under the Corporations Act
- Treasury released a token mapping consultation in 2023 to classify digital assets
- Proposed licensing regime for digital asset platforms under development
Key Points
- MMA has warned against cryptocurrency use
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- Limited crypto adoption