Denmark vs Vatican City
Crypto regulation comparison
Denmark
Vatican City
Legal
No Regulation
Cryptocurrency is legal in Denmark and regulated under EU frameworks including MiCA. Denmark has notably high tax rates on crypto gains, treated as personal income and taxed at rates up to 52%. The Danish Tax Council confirmed in 2018 that gains and losses on Bitcoin are taxable.
Vatican City has no cryptocurrency regulation. The micro-state's financial system is focused on the Holy See's financial activities. ASIF provides financial oversight.
Tax Type
Capital gains
Tax Type
None
Tax Rate
37-52%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Regulator
ASIF (Supervisory and Financial Information Authority)
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
Stablecoin Rules
No stablecoin regulation
Key Points
- Crypto gains taxed as personal income at 37-52% (among the highest in the world)
- Losses on crypto can be deducted against gains
- Finanstilsynet supervises crypto businesses under the Danish AML Act
- Denmark does not have its own crypto-specific legislation beyond EU frameworks
- Skattestyrelsen (tax authority) actively monitors crypto transactions and issues guidance
Key Points
- No specific cryptocurrency legislation
- ASIF provides financial oversight for the Holy See
- Micro-state with very limited financial market
- No crypto exchanges or services
- AML/CFT framework aligned with international standards