Dominica vs Spain
Crypto regulation comparison
Dominica
Spain
No Regulation
Legal
Dominica has no specific cryptocurrency legislation. No income or capital gains tax. ECCB provides regional monetary oversight.
Cryptocurrency is legal and increasingly regulated in Spain. Crypto capital gains are taxed at progressive savings tax rates (19-28%). Spain was an early mover in requiring crypto advertising to be pre-approved by the CNMV. Since 2024, Spanish taxpayers must report overseas crypto holdings via the Modelo 721 form. Banco de España registers VASPs for AML compliance. MiCA applies from December 2024.
Tax Type
No tax
Tax Type
Capital gains
Tax Rate
0%
Tax Rate
19-28%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Eastern Caribbean Central Bank (ECCB)
Regulator
CNMV (Comisión Nacional del Mercado de Valores), Banco de España
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- No specific cryptocurrency legislation
- No income or capital gains tax
- ECCB provides regional monetary oversight
- DCash CBDC pilot in the ECCU region
- Limited crypto adoption
Key Points
- Crypto gains taxed at savings rates: 19% (first €6,000), 21%, 23%, 27%, 28% (above €300,000)
- Modelo 721: mandatory declaration of overseas crypto holdings exceeding €50,000 (from 2024)
- CNMV requires pre-approval of crypto advertising targeting Spanish residents
- Banco de España maintains VASP registry for AML compliance
- Spain has a large crypto-using population; significant expat and digital nomad community