Australia vs Oman
Crypto regulation comparison
Australia
Oman
Legal
Legal
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.
Oman has moved to regulate cryptocurrency with the Capital Market Authority issuing a Virtual Assets Regulatory Framework in 2023. VASP licensing is being implemented, and Oman has attracted crypto mining operations due to its energy resources. There is no personal income or capital gains tax in Oman.
Tax Type
Capital gains
Tax Type
None
Tax Rate
0-45%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
ASIC, AUSTRAC, ATO
Regulator
CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Stablecoin Rules
Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules
Under development within CMSA virtual asset framework
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
- CMA issued the Virtual Assets Regulatory Framework in 2023
- VASP licensing regime being implemented under CMA oversight
- No personal income or capital gains tax in Oman
- Oman has attracted large-scale crypto mining operations leveraging its energy sector
- CBO has issued warnings but not banned crypto for individuals