Cuba vs Marshall Islands
Crypto regulation comparison
Cuba
Marshall Islands
Legal
Legal
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.
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
No
Mining
Yes
Regulator
Banco Central de Cuba (BCC)
Regulator
Banking Commission of the Marshall Islands
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific 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
- 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