Cyprus vs Guatemala
Crypto regulation comparison
Cyprus
Guatemala
Legal
No Regulation
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.
Guatemala has no specific cryptocurrency regulation. The Banco de Guatemala has stated that crypto is not legal tender and not backed by the central bank, but has not banned its use. Crypto usage exists primarily for remittances from the US-based diaspora.
Tax Type
Varies
Tax Type
Unclear
Tax Rate
0-35% (proposed 8% flat rate from 2026)
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CySEC, Central Bank of Cyprus
Regulator
Banguat (Banco de Guatemala), SIB
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin-specific 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
- No specific cryptocurrency legislation exists
- Banguat has warned that crypto is not legal tender and not government-backed
- Crypto is neither explicitly legal nor illegal for private use
- Remittance use case is significant given large diaspora in the US
- Tax treatment of crypto gains is unclear