Central African Republic vs Iceland
Crypto regulation comparison
Central African Republic
Iceland
Legal
Legal
The Central African Republic briefly adopted Bitcoin as legal tender in 2022 under the 'Sango' project, but this was struck down by the Constitutional Court. Crypto remains legal but the legal tender status was reversed.
Cryptocurrency is legal in Iceland and subject to a 22% capital gains tax. Iceland is a major crypto mining destination due to abundant geothermal and hydroelectric energy. As an EEA member, Iceland follows EU financial regulations including MiCA through EEA incorporation.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
22%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BEAC (Bank of Central African States)
Regulator
FME (Fjármálaeftirlitið / Financial Supervisory Authority), Central Bank of Iceland
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation; follows EEA guidelines
Key Points
- Bitcoin was briefly adopted as legal tender in 2022 via the Sango Act
- Constitutional Court struck down the legal tender provision
- Crypto trading and holding remain legal
- BEAC opposed the Bitcoin legal tender move
- Sango crypto hub project launched but has faced significant challenges
Key Points
- 22% capital gains tax on crypto profits
- Iceland is one of the world's largest crypto mining locations due to cheap renewable energy
- FME supervises crypto businesses under AML/KYC regulations
- As an EEA member, Iceland incorporates EU financial regulations including MiCA
- Capital controls (imposed 2008-2017) originally complicated crypto usage but have been lifted