Azerbaijan vs Ethiopia
Crypto regulation comparison
Azerbaijan
Ethiopia
Partially Regulated
Restricted
Azerbaijan has no specific cryptocurrency legislation but crypto is not banned. Crypto profits are taxable at 14% income tax. The Central Bank is drafting a comprehensive digital asset framework expected by end of 2025, modeled on international best practices. A regulatory sandbox is being developed.
Ethiopia's Proclamation No. 1359/2024 explicitly prohibits cryptocurrency for payment transactions but allows the NBE to issue future guidelines on digital assets. Crypto mining is legal and actively growing, with Ethiopia emerging as a major Bitcoin mining destination leveraging hydroelectric power. A comprehensive regulatory framework is under development.
Tax Type
Income
Tax Type
None
Tax Rate
14%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Central Bank of Azerbaijan
Regulator
National Bank of Ethiopia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- No specific crypto legislation; operates in legal gray area
- Crypto profits taxable at 14% income tax
- Central Bank drafting comprehensive digital asset framework
- Manat is the only legal tender per 1995 Constitution
- Regulatory sandbox being developed for virtual assets
Key Points
- Proclamation No. 1359/2024 prohibits cryptocurrency for payment transactions
- NBE authorized to issue future directives on crypto assets and CBDCs
- Crypto mining is legal and rapidly expanding, leveraging hydroelectric power
- Ethiopia has become one of the fastest-growing Bitcoin mining destinations globally
- Comprehensive digital asset regulatory framework under development