Bhutan vs Canada
Crypto regulation comparison
Bhutan
Canada
Legal
Legal
Bhutan has quietly become a significant Bitcoin miner through its government investment arm, Druk Holding & Investments, leveraging hydroelectric power. No tax on crypto.
Canada has a well-developed regulatory framework for cryptocurrency. Crypto trading platforms must register with provincial securities regulators through the CSA, and all crypto businesses must register as money services businesses (MSBs) with FINTRAC. Canada approved spot Bitcoin ETFs in 2021, ahead of most other countries.
Tax Type
No tax
Tax Type
Capital gains
Tax Rate
0%
Tax Rate
0-26.76%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Royal Monetary Authority of Bhutan
Regulator
CSA, FINTRAC, OSC, AMF
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
CSA guidance requires stablecoins to maintain adequate reserves; value-referenced crypto assets regulated
Key Points
- Government entity Druk Holding & Investments mines Bitcoin
- Hydroelectric power used for mining operations
- No income or capital gains tax in Bhutan
- Royal Monetary Authority provides oversight
- One of the few countries with state-level crypto mining operations
Key Points
- Crypto trading platforms must register with CSA provincial regulators
- All crypto dealers must register as MSBs with FINTRAC for AML/KYC compliance
- 50% of capital gains are taxable; business income from crypto is fully taxable
- Canada approved spot Bitcoin and Ether ETFs in 2021, the first major country to do so
- CSA issued Staff Notice 21-327 on obligations for crypto trading platforms