Brazil vs Libya
Crypto regulation comparison
Brazil
Libya
Legal
Banned
Brazil passed comprehensive crypto legislation (Law 14,478) in December 2022, which took effect in June 2023. The Banco Central do Brasil was designated as the primary regulator for crypto assets used as payment, while the CVM oversees crypto securities. Capital gains on crypto are taxed at 15-22.5%.
Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.
Tax Type
Capital gains
Tax Type
None
Tax Rate
15-22.5%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Banco Central do Brasil, CVM, Receita Federal
Regulator
Central Bank of Libya
Stablecoin Rules
Central Bank developing stablecoin-specific rules as part of the crypto regulatory framework
Stablecoin Rules
No stablecoin regulation
Key Points
- Law 14,478/2022 (Marco Legal das Criptomoedas) provides a comprehensive legal framework
- Banco Central regulates VASPs; exchanges must obtain authorization to operate
- Capital gains taxed at 15% (up to R$5M), 17.5% (R$5-10M), 20% (R$10-30M), 22.5% (above R$30M)
- Monthly gains under R$35,000 from sales on domestic exchanges are exempt
- Receita Federal requires detailed monthly reporting of crypto transactions via IN1888
Key Points
- Central Bank of Libya has warned against cryptocurrency use
- No specific cryptocurrency legislation
- Political instability limits regulatory development
- Crypto used informally despite restrictions
- No licensed crypto exchanges operate
