Bulgaria vs Kuwait
Crypto regulation comparison
Bulgaria
Kuwait
Legal
Restricted
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.
Kuwait has taken a restrictive approach to cryptocurrency. The Central Bank of Kuwait and the Capital Markets Authority have prohibited banks and financial institutions from processing crypto transactions. There is no licensing framework for crypto exchanges. However, owning crypto is not explicitly illegal, and there is no personal income tax in Kuwait, so no crypto-specific tax applies.
Tax Type
Capital gains
Tax Type
None
Tax Rate
10%
Tax Rate
0%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
NRA (National Revenue Agency), FSC (Financial Supervision Commission)
Regulator
CBK (Central Bank of Kuwait), CMA
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No specific stablecoin regulation
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
- CBK prohibits banks and financial institutions from dealing in virtual currencies
- No licensing framework exists for crypto exchanges or VASPs
- Personal ownership of crypto is not explicitly criminalized
- No personal income or capital gains tax in Kuwait applies to crypto
- CMA has warned investors about the risks of cryptocurrency