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Ecuador vs Monaco

Crypto regulation comparison

← Back to map | Ecuador | Monaco
Ecuador

Ecuador

Monaco

Monaco

Partially Regulated
Legal

Ecuador has a complex relationship with cryptocurrency. A 2014 National Assembly resolution banned Bitcoin as legal tender, and the Central Bank prohibits financial institutions from dealing in crypto. However, private ownership and trading of crypto are not explicitly illegal, and peer-to-peer usage exists.

Monaco has no income or capital gains tax. The CCAF oversees financial activities. Monaco has shown interest in blockchain technology and digital assets.

Tax Type Unclear
Tax Type No tax
Tax Rate N/A
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central del Ecuador, Superintendencia de Bancos
Regulator Commission de Contrôle des Activités Financières (CCAF)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No specific stablecoin regulation
Key Points
  • 2014 resolution prohibits crypto from being used as legal tender
  • Central Bank bans financial institutions from facilitating crypto transactions
  • Private ownership and P2P trading exist in a legal gray area
  • Ecuador uses the US dollar as its official currency, limiting monetary policy tools
  • No comprehensive crypto regulatory framework in place
Key Points
  • No income or capital gains tax
  • CCAF provides financial regulatory oversight
  • Government has shown interest in blockchain technology
  • Working on digital asset regulatory framework
  • Small but active fintech community
Sources
Sources