Bosnia and Herzegovina vs Somalia
Crypto regulation comparison
Bosnia and Herzegovina
Somalia
Partially Regulated
No Regulation
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%.
Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.
Tax Type
Income
Tax Type
None
Tax Rate
10%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Bosnia and Herzegovina
Regulator
Central Bank of Somalia
Stablecoin Rules
No specific stablecoin regulation; 2024 AML law covers VASPs
Stablecoin Rules
No stablecoin regulation
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
- No specific cryptocurrency legislation
- Fragmented governance limits regulatory development
- Mobile money dominates informal financial system
- Very limited formal financial infrastructure
- No licensing framework for crypto services