Ecuador vs Serbia
Crypto regulation comparison
Ecuador
Serbia
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.
Serbia's Law on Digital Assets, enacted in December 2020 and effective June 2021, created one of the first comprehensive crypto regulatory frameworks in the Western Balkans. The NBS oversees virtual currencies while the Securities Commission handles digital tokens. Service providers must obtain licenses and comply with AML/KYC requirements. Capital gains taxed at 15%.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Banco Central del Ecuador, Superintendencia de Bancos
Regulator
National Bank of Serbia (NBS), Securities Commission
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
- Law on Digital Assets enacted December 2020, effective June 2021
- NBS regulates virtual currencies; Securities Commission regulates digital tokens
- Capital gains on crypto taxed at 15%
- Service providers must obtain licenses and maintain physical offices in Serbia
- Transfer/conversion of digital assets exempt from VAT