Bhutan vs Qatar
Crypto regulation comparison
Bhutan
Qatar
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.
Qatar has a restrictive stance on cryptocurrency. The Qatar Central Bank banned crypto trading and services in 2018, and the QFC Regulatory Authority (QFCRA) prohibits virtual asset services within the Qatar Financial Centre. However, Qatar has shown interest in blockchain technology for non-crypto applications and is exploring a potential CBDC. The Qatar Financial Centre issued a Digital Assets Framework in 2024 focused on tokenized real-world assets, not cryptocurrencies.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
0%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Royal Monetary Authority of Bhutan
Regulator
QCB (Qatar Central Bank), QFCRA
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Not permitted under current QCB regulations
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
- QFCRA prohibited authorized firms from providing virtual asset services (2019 alert, reaffirmed 2024)
- QFCRA prohibits virtual asset services within the Qatar Financial Centre
- QFC introduced a 2024 Digital Assets Framework for tokenized securities (not crypto)
- No personal income or capital gains tax in Qatar (but crypto trading is banned)
- Qatar exploring blockchain and CBDC applications separate from crypto