Estonia vs Honduras
Crypto regulation comparison
Estonia
Honduras
Legal
No Regulation
Estonia was an early mover in crypto regulation, offering licenses since 2017. However, a 2022 overhaul significantly tightened requirements, revoking hundreds of licenses and imposing stricter capital and compliance standards. Crypto gains are taxed at 20% (rising to 22% from 2025).
Honduras has no specific cryptocurrency legislation. The Central Bank and CNBS have issued warnings about crypto risks but have not banned it. The Special Economic Zone of Prospera on Roatán island adopted Bitcoin as legal tender in its jurisdiction, though this is a unique local arrangement.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
20-22%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finantsinspektsioon (EFSA), Rahapesu Andmebüroo (FIU)
Regulator
BCH (Banco Central de Honduras), CNBS
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin-specific regulation
Key Points
- Estonia issued crypto licenses since 2017 but drastically tightened rules in 2022
- Hundreds of crypto licenses were revoked in 2020-2022 due to AML concerns
- New requirements include higher share capital (€100,000-€250,000) and local management
- Crypto gains taxed at 20% personal income tax (22% from 2025)
- MiCA framework applicable from December 2024
Key Points
- No national cryptocurrency legislation exists
- BCH and CNBS issued warnings about risks but no formal ban
- Prospera (ZEDE on Roatán) recognized Bitcoin as legal tender locally
- Crypto use exists primarily through peer-to-peer channels
- No specific tax guidance for cryptocurrency gains