Bhutan vs Zimbabwe
Crypto regulation comparison
Bhutan
Zimbabwe
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.
Zimbabwe has restricted cryptocurrency through its central bank. The RBZ banned financial institutions from processing crypto transactions in 2018. However, in a unique move, the RBZ issued gold-backed digital tokens (ZiG tokens) in 2023 as a store of value. Zimbabwe has a history of currency instability (hyperinflation, currency collapses) which drives informal crypto adoption for hedging and remittances.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Royal Monetary Authority of Bhutan
Regulator
RBZ (Reserve Bank of Zimbabwe)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No private stablecoin regulation; RBZ introduced gold-backed ZiG digital token as state currency
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
- RBZ banned banks and financial institutions from servicing crypto in 2018
- RBZ issued gold-backed digital tokens (ZiG) in 2023 as a CBDC-like instrument
- No licensing framework for crypto exchanges
- Informal crypto adoption driven by currency instability and remittance needs
- Crypto ownership itself is not explicitly criminalized for individuals