Brunei vs Saudi Arabia
Crypto regulation comparison
Brunei
Saudi Arabia
Restricted
Restricted
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.
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Brunei Darussalam Central Bank (BDCB, formerly AMBD)
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No regulation; crypto trading not authorized
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
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)