Bolivia vs Denmark
Crypto regulation comparison
Bolivia
Denmark
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.
Cryptocurrency is legal in Denmark and regulated under EU frameworks including MiCA. Denmark has notably high tax rates on crypto gains, treated as personal income and taxed at rates up to 52%. The Danish Tax Council confirmed in 2018 that gains and losses on Bitcoin are taxable.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
37-52%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCB (Banco Central de Bolivia), ASFI
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
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
- Crypto gains taxed as personal income at 37-52% (among the highest in the world)
- Losses on crypto can be deducted against gains
- Finanstilsynet supervises crypto businesses under the Danish AML Act
- Denmark does not have its own crypto-specific legislation beyond EU frameworks
- Skattestyrelsen (tax authority) actively monitors crypto transactions and issues guidance