Cyprus vs Trinidad and Tobago
Crypto regulation comparison
Cyprus
Trinidad and Tobago
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.
Trinidad and Tobago's crypto sector is largely unregulated. The Central Bank, TTSEC, and FIU jointly warned in 2019 that crypto providers are neither regulated nor supervised. A 2025 Virtual Assets Bill proposes banning crypto transactions until December 2027 with fines up to M TTD. Most banks block crypto purchases.
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
- Joint 2019 advisory: crypto providers neither regulated nor supervised
- Virtual Assets Bill 2025 proposes ban on crypto transactions until December 2027
- Most commercial banks block crypto-related transactions
- Proposed fines up to M TTD for unauthorized virtual asset activities
- TTSEC designated as primary regulator under proposed legislation