Denmark vs Zimbabwe
Crypto regulation comparison
Denmark
Zimbabwe
Legal
Restricted
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.
Zimbabwe has restricted cryptocurrency through its central bank. The RBZ banned financial institutions from processing crypto transactions in 2018. However, in a unique move, the RBZ issued gold-backed digital tokens (ZiG tokens) in 2023 as a store of value. Zimbabwe has a history of currency instability (hyperinflation, currency collapses) which drives informal crypto adoption for hedging and remittances.
Tax Type
Capital gains
Tax Type
None
Tax Rate
37-52%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Finanstilsynet (Danish FSA), Skattestyrelsen
Regulator
RBZ (Reserve Bank of Zimbabwe)
Stablecoin Rules
Regulated under EU MiCA framework (Denmark is EU member but outside eurozone)
Stablecoin Rules
No private stablecoin regulation; RBZ introduced gold-backed ZiG digital token as state currency
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
- RBZ banned banks and financial institutions from servicing crypto in 2018
- RBZ issued gold-backed digital tokens (ZiG) in 2023 as a CBDC-like instrument
- No licensing framework for crypto exchanges
- Informal crypto adoption driven by currency instability and remittance needs
- Crypto ownership itself is not explicitly criminalized for individuals