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Ecuador vs Portugal

Crypto regulation comparison

← Back to map | Ecuador | Portugal
Ecuador

Ecuador

Portugal

Portugal

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.

Portugal was formerly a crypto tax haven with 0% capital gains tax on crypto for individuals, but the 2023 State Budget introduced a 28% capital gains tax on crypto held for less than one year. Crypto held for over 365 days remains tax-free for individuals. Banco de Portugal registers VASPs for AML compliance, and Portugal transitions to MiCA. Portugal attracted many crypto entrepreneurs due to its previously favorable tax regime and NHR (Non-Habitual Resident) program.

Tax Type Unclear
Tax Type Capital gains
Tax Rate N/A
Tax Rate 28%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central del Ecuador, Superintendencia de Bancos
Regulator Banco de Portugal, CMVM (Securities Market Commission)
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules Regulated under EU MiCA framework
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
  • 28% capital gains tax on crypto sold within 365 days (introduced in 2023 budget)
  • Crypto held for more than 365 days is exempt from capital gains tax for individuals
  • Banco de Portugal oversees VASP registration for AML/CFT compliance
  • CMVM regulates crypto where classified as securities
  • Former 0% tax regime attracted crypto entrepreneurs; NHR tax regime phased out in 2024
Sources
Sources