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Bolivia vs Madagascar

Crypto regulation comparison

← Back to map | Bolivia | Madagascar
Bolivia

Bolivia

Madagascar

Madagascar

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.

Madagascar has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto. Crypto operates in a legal gray area.

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 Banque Centrale de Madagascar
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
  • Central bank has not issued formal crypto guidance
  • Crypto not recognized as legal tender
  • Limited crypto adoption and infrastructure
  • No licensing framework for crypto businesses
Sources
Sources