Barbados vs Namibia
Crypto regulation comparison
Barbados
Namibia
Legal
Legal
Barbados has a favorable environment for cryptocurrency. With no income or capital gains tax, crypto activities are not specifically taxed. The Financial Services Commission oversees financial markets. Barbados has been exploring blockchain for government services.
Namibia enacted the Virtual Assets Act (Act 10 of 2023) establishing a comprehensive licensing framework for VASPs. The Bank of Namibia is designated as regulator. Crypto is legal but not legal tender. No specific crypto tax framework yet.
Tax Type
No tax
Tax Type
No framework
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Barbados, Financial Services Commission
Regulator
Bank of Namibia
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under Virtual Assets Act
Key Points
- No income tax or capital gains tax applies to crypto
- Financial Services Commission provides general oversight of financial markets
- Government has explored blockchain for land registry and identity services
- Crypto businesses operate under general financial services regulations
- Growing fintech sector with interest in digital asset innovation
Key Points
- Virtual Assets Act (Act 10 of 2023) signed into law July 2023
- VASPs must obtain licenses from Bank of Namibia to operate
- Provisional licenses granted to first two exchanges in 2025
- Non-compliance penalties up to NAD 10 million and 10 years imprisonment
- Crypto is not legal tender but merchants may accept at their discretion