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Dominica vs Latvia

Crypto regulation comparison

← Back to map | Dominica | Latvia
Dominica

Dominica

Latvia

Latvia

No Regulation
Legal

Dominica has no specific cryptocurrency legislation. No income or capital gains tax. ECCB provides regional monetary oversight.

Cryptocurrency is legal in Latvia and regulated under the EU MiCA framework. Since 2023, the financial regulator FKTK merged into Latvijas Banka, which now oversees VASP registration and AML compliance. Capital gains from crypto are taxed at 20%. Latvia has been proactive in implementing EU-wide crypto standards.

Tax Type No tax
Tax Type Capital gains
Tax Rate 0%
Tax Rate 20%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Eastern Caribbean Central Bank (ECCB)
Regulator FKTK (Finanšu un kapitāla tirgus komisija) / Latvijas Banka
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
  • VASPs must register with Latvijas Banka and comply with AML/CFT requirements
  • Capital gains from crypto taxed at 20% personal income tax rate
  • MiCA framework applies from December 2024, transitioning existing registrations
  • Latvia transposed the 5th Anti-Money Laundering Directive for crypto oversight
  • Latvijas Banka absorbed FKTK regulatory functions in January 2023
Sources
Sources