Brunei vs Bahamas
Crypto regulation comparison
Brunei
Bahamas
Restricted
Legal
Brunei has no specific cryptocurrency legislation. The BDCB (formerly AMBD) stated in 2017 that crypto is not legal tender and not regulated, warning the public about risks. Crypto is not banned but has no legal protection. No tax guidelines address crypto specifically.
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
None
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
Brunei Darussalam Central Bank (BDCB, formerly AMBD)
Regulator
Securities Commission of the Bahamas (SCB)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under DARE Act 2024; algorithmic stablecoins banned
Key Points
- BDCB stated in 2017 that crypto is not legal tender and not regulated
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- No tax guidelines specifically address cryptocurrency
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