Estonia vs Kiribati
Crypto regulation comparison
Estonia
Kiribati
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).
Kiribati has no specific cryptocurrency regulation. Uses the Australian dollar.
Tax Type
Capital gains
Tax Type
None
Tax Rate
20-22%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finantsinspektsioon (EFSA), Rahapesu Andmebüroo (FIU)
Regulator
Ministry of Finance, Kiribati
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin 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 specific cryptocurrency legislation
- Uses the Australian dollar
- Very limited financial infrastructure
- Minimal crypto adoption
- No licensing framework for crypto services