Azerbaijan vs Cambodia
Crypto regulation comparison
Azerbaijan
Cambodia
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.
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
Tax Type
Income
Tax Type
Unclear
Tax Rate
14%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Central Bank of Azerbaijan
Regulator
National Bank of Cambodia (NBC), SERC
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
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
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant