Cuba vs Libya
Crypto regulation comparison
Cuba
Libya
Legal
Banned
Cuba's Central Bank issued Resolution 215/2021 recognizing virtual assets and establishing a licensing framework for virtual asset service providers (VASPs). The BCC evaluates and grants one-year licenses to VASPs. US sanctions limit access to international platforms but domestic crypto use is formally regulated.
Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
No
Mining
No
Regulator
Banco Central de Cuba (BCC)
Regulator
Central Bank of Libya
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- Resolution 215 (2021) allows central bank to license virtual asset service providers
- Central Bank licenses virtual asset service providers under Resolution 215
- VASPs must comply with AML/KYC requirements and report to the central bank
- US sanctions significantly limit access to international crypto platforms
- Government agencies may not use virtual assets without BCC authorization
Key Points
- Central Bank of Libya has warned against cryptocurrency use
- No specific cryptocurrency legislation
- Political instability limits regulatory development
- Crypto used informally despite restrictions
- No licensed crypto exchanges operate