Belgium vs Sierra Leone
Crypto regulation comparison
Belgium
Sierra Leone
Legal
No Regulation
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.
Sierra Leone has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.
Tax Type
Varies
Tax Type
None
Tax Rate
0-33%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
FSMA (Financial Services and Markets Authority)
Regulator
Bank of Sierra Leone
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin regulation
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
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Limited financial infrastructure
- Minimal crypto adoption
- No licensing framework for crypto services