China vs Slovakia
Crypto regulation comparison
China
Slovakia
Banned
Legal
China has imposed a comprehensive ban on cryptocurrency activities. In September 2021, the PBOC and ten other agencies jointly declared all cryptocurrency transactions illegal, and the State Council banned crypto mining. China is instead promoting the digital yuan (e-CNY) CBDC.
Cryptocurrency is legal in Slovakia and regulated under EU MiCA framework since December 2024. A 7% reduced tax rate for long-term holdings was passed in 2023 but repealed by the consolidation package before taking effect. Crypto gains are taxed at standard income tax rates of 19-25%. VASPs must be authorized by NBS under MiCA.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
19-25%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
PBOC (People's Bank of China), CBIRC, CSRC
Regulator
NBS (Národná banka Slovenska)
Stablecoin Rules
Not applicable; all crypto activities are banned
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- All crypto transactions declared illegal by PBOC and 10 agencies in September 2021
- Crypto mining banned by the State Council in 2021 after a series of provincial crackdowns
- Financial institutions and payment companies prohibited from facilitating crypto services
- China actively developing and piloting the digital yuan (e-CNY) CBDC
- Despite the ban, some Chinese citizens reportedly access crypto via VPNs and OTC desks
Key Points
- 7% tax rate for long-term holdings was passed in 2023 but repealed before taking effect
- Crypto gains taxed at 19% (income up to €47,537) or 25% (above threshold)
- VASPs must register with NBS for AML/CFT compliance
- MiCA framework applicable since 30 December 2024; NBS grants authorizations
- MiCA framework applicable from December 2024