Azerbaijan vs San Marino
Crypto regulation comparison
Azerbaijan
San Marino
Partially Regulated
Legal
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.
San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.
Tax Type
Income
Tax Type
Unclear
Tax Rate
14%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Azerbaijan
Regulator
Central Bank of San Marino, AIF (Financial Information Agency)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific 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
- 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