Bhutan vs Sri Lanka
Crypto regulation comparison
Bhutan
Sri Lanka
Legal
Restricted
Bhutan has quietly become a significant Bitcoin miner through its government investment arm, Druk Holding & Investments, leveraging hydroelectric power. No tax on crypto.
Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.
Tax Type
No tax
Tax Type
Unclear
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Royal Monetary Authority of Bhutan
Regulator
Central Bank of Sri Lanka, Securities and Exchange Commission
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
- CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
- No entity authorized to operate crypto exchanges, mining, or advisory services
- Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
- CBSL requested criminal proceedings against crypto pyramid schemes
- SEC discussed as potential future regulatory authority for digital assets