Barbados vs Seychelles
Crypto regulation comparison
Barbados
Seychelles
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.
The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.
Tax Type
No tax
Tax Type
No tax
Tax Rate
0%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
Central Bank of Barbados, Financial Services Commission
Regulator
Financial Services Authority (FSA)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under VASP Act 2024
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
- VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
- FSA licenses and supervises all virtual asset service providers
- Mining facilities and mixer/tumbler services prohibited
- VASPs must maintain local office and resident director
- Licensed IBC VASPs taxed at 1.5% on assessable income