Bahamas vs Nauru
Crypto regulation comparison
Bahamas
Nauru
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.
Nauru has no specific cryptocurrency regulation.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Securities Commission of the Bahamas (SCB)
Regulator
Command Ridge Virtual Asset Authority (CRVAA)
Stablecoin Rules
Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules
No stablecoin regulation
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
- No specific cryptocurrency legislation
- Very limited financial infrastructure
- Minimal crypto adoption
- One of the world's smallest economies
- No licensing framework for crypto services