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Cyprus vs Ecuador

Crypto regulation comparison

← Back to map | Cyprus | Ecuador
Cyprus

Cyprus

Ecuador

Ecuador

Legal
Partially Regulated

Cyprus regulates crypto under the EU MiCA framework (fully applicable since December 2024). CySEC authorizes crypto-asset service providers (CASPs) while the Central Bank of Cyprus oversees e-money tokens and asset-referenced tokens. Crypto gains from occasional transactions are currently not taxed; active trading is taxed as income at 0-35%. A proposed 8% flat tax on crypto gains is pending parliamentary approval for 2026.

Ecuador has a complex relationship with cryptocurrency. A 2014 National Assembly resolution banned Bitcoin as legal tender, and the Central Bank prohibits financial institutions from dealing in crypto. However, private ownership and trading of crypto are not explicitly illegal, and peer-to-peer usage exists.

Tax Type Varies
Tax Type Unclear
Tax Rate 0-35% (proposed 8% flat rate from 2026)
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CySEC, Central Bank of Cyprus
Regulator Banco Central del Ecuador, Superintendencia de Bancos
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules No specific stablecoin regulation
Key Points
  • CySEC authorizes and supervises crypto-asset service providers under MiCA
  • No capital gains tax on crypto for occasional transactions; active trading taxed as income
  • EU MiCA regulation applies as an EU member state
  • AML/CFT requirements enforced for all crypto businesses
  • Proposed 8% flat tax on crypto gains pending parliamentary approval for 2026
Key Points
  • 2014 resolution prohibits crypto from being used as legal tender
  • Central Bank bans financial institutions from facilitating crypto transactions
  • Private ownership and P2P trading exist in a legal gray area
  • Ecuador uses the US dollar as its official currency, limiting monetary policy tools
  • No comprehensive crypto regulatory framework in place
Sources
Sources