Bhutan vs Guatemala
Crypto regulation comparison
Bhutan
Guatemala
Legal
No Regulation
Bhutan has quietly become a significant Bitcoin miner through its government investment arm, Druk Holding & Investments, leveraging hydroelectric power. No tax on crypto.
Guatemala has no specific cryptocurrency regulation. The Banco de Guatemala has stated that crypto is not legal tender and not backed by the central bank, but has not banned its use. Crypto usage exists primarily for remittances from the US-based diaspora.
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
Banguat (Banco de Guatemala), SIB
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No stablecoin-specific 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
- No specific cryptocurrency legislation exists
- Banguat has warned that crypto is not legal tender and not government-backed
- Crypto is neither explicitly legal nor illegal for private use
- Remittance use case is significant given large diaspora in the US
- Tax treatment of crypto gains is unclear