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Bhutan vs Monaco

Crypto regulation comparison

← Back to map | Bhutan | Monaco
Bhutan

Bhutan

Monaco

Monaco

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.

Monaco has no income or capital gains tax. The CCAF oversees financial activities. Monaco has shown interest in blockchain technology and digital assets.

Tax Type No tax
Tax Type No tax
Tax Rate 0%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Royal Monetary Authority of Bhutan
Regulator Commission de Contrôle des Activités Financières (CCAF)
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
  • No income or capital gains tax
  • CCAF provides financial regulatory oversight
  • Government has shown interest in blockchain technology
  • Working on digital asset regulatory framework
  • Small but active fintech community
Sources
Sources