Costa Rica vs El Salvador
Crypto regulation comparison
Costa Rica
El Salvador
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.
El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.
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
BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
USD is the primary currency; Bitcoin-specific legislation in place
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
- First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
- Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
- January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
- No capital gains tax on Bitcoin transactions for individuals
- Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds