Spain vs Ghana
Crypto regulation comparison
Spain
Ghana
Legal
No Regulation
Cryptocurrency is legal and increasingly regulated in Spain. Crypto capital gains are taxed at progressive savings tax rates (19-28%). Spain was an early mover in requiring crypto advertising to be pre-approved by the CNMV. Since 2024, Spanish taxpayers must report overseas crypto holdings via the Modelo 721 form. Banco de España registers VASPs for AML compliance. MiCA applies from December 2024.
Ghana has no specific cryptocurrency legislation. The Bank of Ghana has warned citizens about the risks of crypto but has not imposed an outright ban. SEC Ghana has indicated plans to develop a regulatory framework for digital assets, and the country has one of Africa's growing crypto communities.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
19-28%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CNMV (Comisión Nacional del Mercado de Valores), Banco de España
Regulator
Bank of Ghana (BoG), SEC Ghana
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin regulation; Bank of Ghana exploring e-Cedi CBDC
Key Points
- Crypto gains taxed at savings rates: 19% (first €6,000), 21%, 23%, 27%, 28% (above €300,000)
- Modelo 721: mandatory declaration of overseas crypto holdings exceeding €50,000 (from 2024)
- CNMV requires pre-approval of crypto advertising targeting Spanish residents
- Banco de España maintains VASP registry for AML compliance
- Spain has a large crypto-using population; significant expat and digital nomad community
Key Points
- No specific cryptocurrency legislation or regulatory framework exists
- Bank of Ghana issued warnings about crypto risks but has not banned it
- SEC Ghana has expressed interest in developing a digital asset framework
- Ghana has high crypto adoption relative to its economy, particularly for P2P trading
- Bank of Ghana has been piloting the e-Cedi CBDC