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Bolivia vs Micronesia

Crypto regulation comparison

← Back to map | Bolivia | Micronesia
Bolivia

Bolivia

Micronesia

Micronesia

Legal
No Regulation

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.

Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BCB (Banco Central de Bolivia), ASFI
Regulator Department of Finance and Administration
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No stablecoin regulation
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
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources