Bhutan vs Ecuador
Crypto regulation comparison
Bhutan
Ecuador
Legal
Partially Regulated
Bhutan has quietly become a significant Bitcoin miner through its government investment arm, Druk Holding & Investments, leveraging hydroelectric power. No tax on crypto.
Ecuador has a complex relationship with cryptocurrency. A 2014 National Assembly resolution banned Bitcoin as legal tender, and the Central Bank prohibits financial institutions from dealing in crypto. However, private ownership and trading of crypto are not explicitly illegal, and peer-to-peer usage exists.
Tax Type
No tax
Tax Type
Unclear
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Royal Monetary Authority of Bhutan
Regulator
Banco Central del Ecuador, Superintendencia de Bancos
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific 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
- 2014 resolution prohibits crypto from being used as legal tender
- Central Bank bans financial institutions from facilitating crypto transactions
- Private ownership and P2P trading exist in a legal gray area
- Ecuador uses the US dollar as its official currency, limiting monetary policy tools
- No comprehensive crypto regulatory framework in place