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Eritrea vs Seychelles

Crypto regulation comparison

← Back to map | Eritrea | Seychelles
Eritrea

Eritrea

Seychelles

Seychelles

Restricted
Legal

Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.

The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.

Tax Type None
Tax Type No tax
Tax Rate N/A
Tax Rate 0%
Exchanges No No
Exchanges Yes Yes
Mining No No
Mining No No
Regulator Bank of Eritrea
Regulator Financial Services Authority (FSA)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Regulated under VASP Act 2024
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
  • VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
  • FSA licenses and supervises all virtual asset service providers
  • Mining facilities and mixer/tumbler services prohibited
  • VASPs must maintain local office and resident director
  • Licensed IBC VASPs taxed at 1.5% on assessable income
Sources
Sources