Australia vs San Marino
Crypto regulation comparison
Australia
San Marino
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.
San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
0-45%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
ASIC, AUSTRAC, ATO
Regulator
Central Bank of San Marino, AIF (Financial Information Agency)
Stablecoin Rules
Stablecoins to be regulated under proposed payments framework legislation
Stablecoin Rules
No specific 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
- Delegated Decree on blockchain technology entities issued
- Licenses issued for blockchain-based businesses
- AIF provides regulatory oversight
- Small jurisdiction working to attract blockchain companies
- Developing comprehensive digital asset regulation