Bolivia vs Kazakhstan
Crypto regulation comparison
Bolivia
Kazakhstan
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.
Kazakhstan has a dual approach to crypto regulation. The Astana International Financial Centre (AIFC) operates as a regulated sandbox where licensed crypto exchanges can operate under AFSA supervision. Outside the AIFC, crypto regulation is more restrictive. Kazakhstan became a major mining hub after China's ban but has since tightened mining regulations.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCB (Banco Central de Bolivia), ASFI
Regulator
AFSA (Astana Financial Services Authority), NBK (National Bank of Kazakhstan)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
AIFC (Astana International Financial Centre) has its own framework for digital assets including stablecoins
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
- AIFC provides a regulatory sandbox for licensed crypto exchanges and businesses
- Mining is legal and licensed, with a specific tax on electricity consumption for miners
- Kazakhstan became the world's second-largest Bitcoin mining country after China's 2021 ban
- 2022 mining crackdown introduced stricter licensing and energy consumption taxes
- Outside AIFC, domestic crypto payments and exchanges face greater restrictions