Barbados vs Norway
Crypto regulation comparison
Barbados
Norway
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.
Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.
Tax Type
No tax
Tax Type
Wealth and capital gains
Tax Rate
0%
Tax Rate
22% (gains) + 1.1% (wealth)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Barbados, Financial Services Commission
Regulator
Finanstilsynet (Financial Supervisory Authority)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
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
- Crypto capital gains taxed at 22% flat rate
- Crypto included in wealth tax base (~1.1% on net wealth above threshold)
- VASPs must register with Finanstilsynet and comply with AML/CFT requirements
- Norway is a major crypto mining hub due to cheap hydroelectric power
- EEA member; MiCA implementation expected through EEA Agreement adaptation