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Estonia vs Qatar

Crypto regulation comparison

← Back to map | Estonia | Qatar
Estonia

Estonia

Qatar

Qatar

Legal
Restricted

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).

Qatar has a restrictive stance on cryptocurrency. The Qatar Central Bank banned crypto trading and services in 2018, and the QFC Regulatory Authority (QFCRA) prohibits virtual asset services within the Qatar Financial Centre. However, Qatar has shown interest in blockchain technology for non-crypto applications and is exploring a potential CBDC. The Qatar Financial Centre issued a Digital Assets Framework in 2024 focused on tokenized real-world assets, not cryptocurrencies.

Tax Type Capital gains
Tax Type None
Tax Rate 20-22%
Tax Rate 0%
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator Finantsinspektsioon (EFSA), Rahapesu Andmebüroo (FIU)
Regulator QCB (Qatar Central Bank), QFCRA
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules Not permitted under current QCB regulations
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
  • QFCRA prohibited authorized firms from providing virtual asset services (2019 alert, reaffirmed 2024)
  • QFCRA prohibits virtual asset services within the Qatar Financial Centre
  • QFC introduced a 2024 Digital Assets Framework for tokenized securities (not crypto)
  • No personal income or capital gains tax in Qatar (but crypto trading is banned)
  • Qatar exploring blockchain and CBDC applications separate from crypto
Sources
Sources