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Dominican Republic vs Micronesia

Crypto regulation comparison

← Back to map | Dominican Republic | Micronesia
Dominican Republic

Dominican Republic

Micronesia

Micronesia

Restricted
No Regulation

The Dominican Republic has no specific cryptocurrency legislation. The central bank (BCRD) issued statements in 2017 and 2021 warning that crypto is not legal tender and prohibiting regulated financial institutions from dealing in digital assets under Monetary Law No. 183-02. Individual use is not criminalized but operates in a restricted gray area.

Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central de la República Dominicana (BCRD), SIMV
Regulator Department of Finance and Administration
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No stablecoin regulation
Key Points
  • No specific cryptocurrency legislation exists
  • BCRD prohibits regulated financial institutions from dealing in crypto
  • Crypto is not recognized as legal tender
  • No licensing framework for crypto exchanges
  • Crypto gains treated as taxable income when converted to Dominican pesos
Key Points
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources