Bahamas vs France
Crypto regulation comparison
Bahamas
France
Legal
Legal
The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.
France has one of Europe's most developed crypto regulatory frameworks. The PACTE law (2019) established the PSAN (prestataire de services sur actifs numériques) registration regime, now transitioning to MiCA licensing. Crypto gains are subject to the 30% flat tax (prélèvement forfaitaire unique).
Tax Type
No tax
Tax Type
Capital gains
Tax Rate
0%
Tax Rate
30%
Exchanges
Yes
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Securities Commission of the Bahamas (SCB)
Regulator
AMF (Autorité des Marchés Financiers), ACPR
Stablecoin Rules
Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules
Regulated under MiCA; stablecoin issuers need e-money or credit institution license
Key Points
- DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
- Securities Commission of the Bahamas licenses and supervises digital asset businesses
- No income tax, capital gains tax, or crypto-specific taxes
- Sand Dollar CBDC launched in 2020 as one of the world's first
- FTX collapse in 2022 led to enhanced scrutiny and regulatory updates
Key Points
- 30% flat tax on crypto capital gains (12.8% income tax + 17.2% social charges) for non-professionals
- PSAN registration required by AMF for all crypto service providers (mandatory since 2023)
- Transitioning from PSAN regime to MiCA licensing framework in 2024-2025
- Professional crypto traders may opt for progressive income tax rates
- France is home to major crypto companies including Ledger and Société Générale's FORGE