Bosnia and Herzegovina vs Iraq
Crypto regulation comparison
Bosnia and Herzegovina
Iraq
Partially Regulated
Banned
Bosnia and Herzegovina has no comprehensive crypto legislation. The Central Bank warns crypto is not legal tender and banks cannot convert crypto to BAM. Crypto trading is legal. A 2024 AML law designates VASPs as obligated entities. Republika Srpska gave crypto legal status as digital records of value in 2022. Corporate tax on crypto is 10%.
Iraq has banned cryptocurrency dealings. The Central Bank of Iraq issued a directive in 2017 prohibiting banks, financial institutions, and exchange companies from dealing in cryptocurrency. Despite the ban, some underground and peer-to-peer crypto trading reportedly persists.
Tax Type
Income
Tax Type
Unclear
Tax Rate
10%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Central Bank of Bosnia and Herzegovina
Regulator
CBI (Central Bank of Iraq)
Stablecoin Rules
No specific stablecoin regulation; 2024 AML law covers VASPs
Stablecoin Rules
Not applicable; crypto activities prohibited
Key Points
- No comprehensive crypto legislation at state level
- Central Bank warns crypto is not legal tender; banks cannot convert to BAM
- 2024 AML/CFT law designates VASPs as obligated entities with KYC requirements
- Republika Srpska gave crypto legal status as digital records in 2022
- 10% corporate tax on crypto profits; exchange services VAT exempt
Key Points
- CBI banned all crypto dealings by financial institutions in 2017
- Exchange companies are prohibited from handling cryptocurrency
- No regulatory framework for crypto businesses
- Underground and P2P crypto trading reportedly exists despite the ban
- The ban is motivated by AML concerns and financial stability considerations