Eritrea vs Iraq
Crypto regulation comparison
Eritrea
Iraq
Restricted
Banned
Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.
Iraq has banned cryptocurrency dealings. The Central Bank of Iraq issued a directive in 2017 prohibiting banks, financial institutions, and exchange companies from dealing in cryptocurrency. Despite the ban, some underground and peer-to-peer crypto trading reportedly persists.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
No
Regulator
Bank of Eritrea
Regulator
CBI (Central Bank of Iraq)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Not applicable; crypto activities prohibited
Key Points
- Highly restrictive financial environment
- Government tightly controls the economy
- No specific cryptocurrency legislation
- Very limited internet access
- No formal crypto services or exchanges
Key Points
- CBI banned all crypto dealings by financial institutions in 2017
- Exchange companies are prohibited from handling cryptocurrency
- No regulatory framework for crypto businesses
- Underground and P2P crypto trading reportedly exists despite the ban
- The ban is motivated by AML concerns and financial stability considerations