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Bahamas vs Seychelles

Crypto regulation comparison

← Back to map | Bahamas | Seychelles
Bahamas

Bahamas

Seychelles

Seychelles

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.

The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.

Tax Type No tax
Tax Type No tax
Tax Rate 0%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining No No
Mining No No
Regulator Securities Commission of the Bahamas (SCB)
Regulator Financial Services Authority (FSA)
Stablecoin Rules Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules Regulated under VASP Act 2024
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
  • VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
  • FSA licenses and supervises all virtual asset service providers
  • Mining facilities and mixer/tumbler services prohibited
  • VASPs must maintain local office and resident director
  • Licensed IBC VASPs taxed at 1.5% on assessable income
Sources
Sources