Bhutan vs Cuba
Crypto regulation comparison
Bhutan
Cuba
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.
Cuba's Central Bank issued Resolution 215/2021 recognizing virtual assets and establishing a licensing framework for virtual asset service providers (VASPs). The BCC evaluates and grants one-year licenses to VASPs. US sanctions limit access to international platforms but domestic crypto use is formally regulated.
Tax Type
No tax
Tax Type
Unclear
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
Royal Monetary Authority of Bhutan
Regulator
Banco Central de Cuba (BCC)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No stablecoin regulation
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
- Resolution 215 (2021) allows central bank to license virtual asset service providers
- Central Bank licenses virtual asset service providers under Resolution 215
- VASPs must comply with AML/KYC requirements and report to the central bank
- US sanctions significantly limit access to international crypto platforms
- Government agencies may not use virtual assets without BCC authorization