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Bhutan vs Timor-Leste

Crypto regulation comparison

Bhutan

Bhutan

Timor-Leste

Timor-Leste

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.

Timor-Leste has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

Tax Type No tax
Tax Type None
Tax Rate 0%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Royal Monetary Authority of Bhutan
Regulator Banco Central de Timor-Leste
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
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Central bank has not addressed crypto regulation
  • Very limited financial infrastructure
  • Minimal crypto adoption