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Switzerland vs Rwanda

Crypto regulation comparison

← Back to map | Switzerland | Rwanda
Switzerland

Switzerland

Rwanda

Rwanda

Legal
Restricted

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.

Rwanda is developing a comprehensive crypto regulatory framework. The NBR and Capital Markets Authority are drafting a law requiring VASPs to obtain CMA licenses. The draft law prohibits crypto as legal tender, bans mining and crypto ATMs, and imposes fines up to 30M RWF and imprisonment for unlicensed operators.

Tax Type Wealth
Tax Type None
Tax Rate 0% capital gains (individuals); wealth tax varies by canton
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator FINMA (Swiss Financial Market Supervisory Authority)
Regulator National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
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 Draft law prohibits crypto as payment; mining and crypto ATMs banned
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
  • Draft law requires VASPs to obtain licenses from Capital Markets Authority
  • Crypto prohibited as legal tender or payment method under draft law
  • Crypto mining, crypto ATMs, and mixer/tumbler services banned
  • Penalties include fines up to 30M RWF and up to 5 years imprisonment
  • Framework driven by FATF compliance on AML requirements
Sources
Sources