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Dominican Republic vs Sri Lanka

Crypto regulation comparison

← Back to map | Dominican Republic | Sri Lanka
Dominican Republic

Dominican Republic

Sri Lanka

Sri Lanka

Restricted
Restricted

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.

Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.

Tax Type Unclear
Tax Type Unclear
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central de la República Dominicana (BCRD), SIMV
Regulator Central Bank of Sri Lanka, Securities and Exchange Commission
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
  • CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
  • No entity authorized to operate crypto exchanges, mining, or advisory services
  • Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
  • CBSL requested criminal proceedings against crypto pyramid schemes
  • SEC discussed as potential future regulatory authority for digital assets
Sources
Sources