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Switzerland vs North Macedonia

Crypto regulation comparison

← Back to map | Switzerland | North Macedonia
Switzerland

Switzerland

North Macedonia

North Macedonia

Legal
Legal

Switzerland is one of the world's most crypto-friendly jurisdictions. The Canton of Zug is known as 'Crypto Valley' and hosts the Ethereum Foundation and hundreds of blockchain companies. FINMA provides clear regulatory guidance, and the DLT Act (2021) created a legal framework for tokenized securities and crypto exchanges. Individual investors pay no capital gains tax on crypto, though it is included in the cantonal wealth tax base. Professional traders may be subject to income tax.

North Macedonia has no dedicated cryptocurrency legislation. Crypto is not prohibited and operates in a regulatory gray area. The general flat 10% income tax rate may apply to crypto profits. The government is working toward EU MiCA alignment and plans to license crypto exchanges by 2025-2026.

Tax Type Wealth
Tax Type Income
Tax Rate 0% capital gains (individuals); wealth tax varies by canton
Tax Rate 10%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FINMA (Swiss Financial Market Supervisory Authority)
Regulator National Bank of the Republic of North Macedonia
Stablecoin Rules Regulated under FINMA framework; fiat-pegged stablecoin issuers must hold a banking or fintech licence (reserves treated as public deposits), or a payment system licence under FMIA if structured as financial market infrastructure
Stablecoin Rules No specific stablecoin regulation
Key Points
  • No capital gains tax on crypto for individual investors (private wealth management)
  • Crypto included in cantonal wealth tax base (rates vary by canton, typically 0.1-1%)
  • Professional/frequent traders may be classified as self-employed and taxed on income
  • FINMA regulates crypto under existing financial market laws and the 2021 DLT Act
  • DLT Act (2021) introduced DLT trading facility license and legal framework for tokenized assets
Key Points
  • No dedicated cryptocurrency legislation
  • Central bank has acknowledged crypto without banning it
  • General flat 10% personal income tax rate may apply to crypto profits
  • Government working toward licensing crypto exchanges by 2025-2026
  • Working toward EU candidacy and alignment with MiCA regulation
Sources
Sources