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Dominican Republic vs El Salvador

Crypto regulation comparison

← Back to map | Dominican Republic | El Salvador
Dominican Republic

Dominican Republic

El Salvador

El Salvador

Restricted
Legal

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.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type Unclear
Tax Type No tax
Tax Rate N/A
Tax Rate 0%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central de la República Dominicana (BCRD), SIMV
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources