Belgium vs Nepal
Crypto regulation comparison
Belgium
Nepal
Legal
Banned
Cryptocurrency is legal in Belgium and regulated under the EU's MiCA framework. Tax treatment depends on whether gains are considered normal management of private assets (tax-free), speculative (33% misc income), or professional income (progressive rates). The FSMA has banned distribution of crypto derivatives to consumers.
Nepal has banned cryptocurrency trading, mining, and transactions. The Nepal Rastra Bank declared crypto trading illegal in 2017, and the Nepal Telecommunications Authority has been directed to block crypto exchange websites. Law enforcement has arrested individuals for operating crypto exchanges. Despite the ban, some citizens use VPNs to access crypto.
Tax Type
Varies
Tax Type
None
Tax Rate
0-33%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
FSMA (Financial Services and Markets Authority)
Regulator
NRB (Nepal Rastra Bank)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
All crypto activities banned
Key Points
- Tax treatment depends on classification: normal portfolio management (0%), speculation (33%), or professional (up to 50%)
- FSMA banned advertising of crypto derivatives and certain crypto products to consumers in 2022
- VASPs must register with FSMA and comply with AML/KYC requirements
- MiCA regulation fully applicable from December 2024
- Belgium has a relatively active crypto community and blockchain ecosystem
Key Points
- NRB declared all crypto trading and transactions illegal in 2017
- Mining cryptocurrency is also prohibited
- NTA directed to block access to crypto exchange websites
- Arrests have been made for operating crypto trading platforms
- NRB exploring a central bank digital currency (CBDC) as an alternative