Costa Rica vs Marshall Islands
Crypto regulation comparison
Costa Rica
Marshall Islands
No Regulation
Legal
Costa Rica has no specific cryptocurrency legislation. The Central Bank has stated crypto is not legal tender and not backed by the government, but has not prohibited its use. Some businesses accept Bitcoin, and there is a growing crypto community, particularly in tech-focused areas.
The Marshall Islands passed the Sovereign Currency Act in 2018 to create the SOV, a blockchain-based national digital currency. No income or capital gains tax.
Tax Type
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCCR (Banco Central de Costa Rica), SUGEF
Regulator
Banking Commission of the Marshall Islands
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- No specific cryptocurrency legislation exists
- BCCR does not recognize crypto as legal tender but has not banned it
- Crypto businesses operate in a legal gray area without formal licensing
- A Bitcoin and crypto community has emerged, especially around tech hubs
- Tax obligations on crypto gains are unclear due to lack of specific guidance
Key Points
- Sovereign Currency Act (2018) created SOV digital currency
- No income or capital gains tax
- Has been a popular jurisdiction for DAO registration
- Banking Commission provides oversight
- Limited domestic crypto adoption