Bulgaria vs Seychelles
Crypto regulation comparison
Bulgaria
Seychelles
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 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
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
Financial Services Authority (FSA)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Regulated under VASP Act 2024
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
- 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