Ecuador vs North Macedonia
Crypto regulation comparison
Ecuador
North Macedonia
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.
North Macedonia has no dedicated cryptocurrency legislation. Crypto is not prohibited and operates in a regulatory gray area. The general flat 10% income tax rate may apply to crypto profits. The government is working toward EU MiCA alignment and plans to license crypto exchanges by 2025-2026.
Tax Type
Unclear
Tax Type
Income
Tax Rate
N/A
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Banco Central del Ecuador, Superintendencia de Bancos
Regulator
National Bank of the Republic of North Macedonia
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 dedicated cryptocurrency legislation
- Central bank has acknowledged crypto without banning it
- General flat 10% personal income tax rate may apply to crypto profits
- Government working toward licensing crypto exchanges by 2025-2026
- Working toward EU candidacy and alignment with MiCA regulation