Bahrain vs Cambodia
Crypto regulation comparison
Bahrain
Cambodia
Legal
Restricted
Bahrain is one of the most crypto-friendly jurisdictions in the Middle East. The Central Bank of Bahrain introduced a comprehensive crypto-asset regulatory framework in 2019, and there is no personal income or capital gains tax. Several major exchanges including Binance have obtained licenses.
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
Tax Type
No tax
Tax Type
Unclear
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
CBB (Central Bank of Bahrain)
Regulator
National Bank of Cambodia (NBC), SERC
Stablecoin Rules
Regulated under CBB crypto-asset module; stablecoin issuance requires CBB licensing
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Key Points
- CBB Crypto-Asset Module provides a full regulatory framework for exchanges, custodians, and brokers
- No personal income tax or capital gains tax in Bahrain
- Licensed exchanges include Binance (CoinMENA), Rain, and others
- VASPs must meet AML/CFT requirements and obtain CBB licensing
- Bahrain positions itself as a regional fintech and crypto hub
Key Points
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant