Dominican Republic vs Trinidad and Tobago
Crypto regulation comparison
Dominican Republic
Trinidad and Tobago
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.
Trinidad and Tobago's crypto sector is largely unregulated. The Central Bank, TTSEC, and FIU jointly warned in 2019 that crypto providers are neither regulated nor supervised. A 2025 Virtual Assets Bill proposes banning crypto transactions until December 2027 with fines up to M TTD. Most banks block crypto purchases.
Tax Type
Unclear
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Banco Central de la República Dominicana (BCRD), SIMV
Regulator
Central Bank of Trinidad and Tobago (CBTT), TTSEC
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
- Joint 2019 advisory: crypto providers neither regulated nor supervised
- Virtual Assets Bill 2025 proposes ban on crypto transactions until December 2027
- Most commercial banks block crypto-related transactions
- Proposed fines up to M TTD for unauthorized virtual asset activities
- TTSEC designated as primary regulator under proposed legislation