Bolivia vs Bahamas
Crypto regulation comparison
Bolivia
Bahamas
Legal
Legal
Bolivia reversed its 2014 cryptocurrency ban in June 2024, when the Central Bank issued a resolution allowing the use of cryptocurrencies and digital assets through authorized financial channels. The move was driven by the need for alternative payment mechanisms amid dollar shortages.
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
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
BCB (Banco Central de Bolivia), ASFI
Regulator
Securities Commission of the Bahamas (SCB)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under DARE Act 2024; algorithmic stablecoins banned
Key Points
- Bolivia banned crypto in 2014 via BCB Resolution 044/2014
- Ban was lifted in June 2024 via new BCB resolution permitting crypto transactions
- Reversal motivated by acute US dollar shortages in the country
- Regulatory framework for VASPs is still being developed
- Tax treatment of crypto remains largely unclear under Bolivian tax law
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