Bulgaria vs Bahamas
Crypto regulation comparison
Bulgaria
Bahamas
Legal
Legal
Cryptocurrency is legal in Bulgaria and subject to a flat 10% tax on capital gains, one of the lowest in the EU. Bulgaria adopted the EU's MiCA framework and requires crypto service providers to register. The country has a notable history with crypto due to a large government Bitcoin seizure in 2017.
The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.
Tax Type
Capital gains
Tax Type
No tax
Tax Rate
10%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
NRA (National Revenue Agency), FSC (Financial Supervision Commission)
Regulator
Securities Commission of the Bahamas (SCB)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Regulated under DARE Act 2024; algorithmic stablecoins banned
Key Points
- Flat 10% personal income tax rate applies to crypto capital gains
- VASPs must register with the NRA for AML compliance
- MiCA framework applicable from December 2024
- Bulgaria reportedly seized approximately 200,000 BTC in a 2017 crime bust (status debated)
- No specific crypto legislation beyond EU directives and general tax law
Key Points
- DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
- Securities Commission of the Bahamas licenses and supervises digital asset businesses
- No income tax, capital gains tax, or crypto-specific taxes
- Sand Dollar CBDC launched in 2020 as one of the world's first
- FTX collapse in 2022 led to enhanced scrutiny and regulatory updates