China vs Syria
Crypto regulation comparison
China
Syria
Banned
Banned
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.
Syria has a restrictive stance on cryptocurrency compounded by international sanctions. The Central Bank has not authorized crypto activities. International sanctions make access to crypto platforms extremely difficult.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
No
Regulator
PBOC (People's Bank of China), CBIRC, CSRC
Regulator
Central Bank of Syria
Stablecoin Rules
Not applicable; all crypto activities are banned
Stablecoin Rules
No stablecoin regulation
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
- Central Bank has not authorized cryptocurrency activities
- International sanctions severely restrict crypto access
- No specific cryptocurrency legislation
- Limited internet infrastructure hampers crypto use
- Informal crypto usage exists despite restrictions