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Bolivia vs Japan

Crypto regulation comparison

← Back to map | Bolivia | Japan
Bolivia

Bolivia

Japan

Japan

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.

Japan is one of the world's most comprehensively regulated crypto markets. The Payment Services Act and Financial Instruments and Exchange Act govern crypto exchanges and tokens. Japan classifies crypto as "crypto-assets" and taxes gains as miscellaneous income at rates up to 55%, though reforms to lower this rate are under active discussion.

Tax Type Unclear
Tax Type Income
Tax Rate N/A
Tax Rate 15-55%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BCB (Banco Central de Bolivia), ASFI
Regulator FSA (Financial Services Agency), JVCEA
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules 2022 stablecoin law requires issuers to be licensed banks, trust companies, or fund transfer agents
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 exchanges must register with the FSA under the Payment Services Act
  • Crypto gains taxed as miscellaneous income at up to 55% (national + local tax)
  • Japan's self-regulatory body JVCEA sets industry standards for exchanges
  • 2022 stablecoin legislation (revised Payment Services Act) regulates stablecoin issuance
  • Government considering tax reform to apply a flat 20% separate taxation on crypto gains
Sources
Sources