Finland vs Jamaica
Crypto regulation comparison
Finland
Jamaica
Legal
No Regulation
Cryptocurrency is legal in Finland and well-regulated by the FIN-FSA. Crypto gains are taxed as capital income at 30% (34% for gains exceeding €30,000). Finland is one of few EU countries that has actively enforced tax compliance on crypto through data requests to exchanges.
Jamaica has no specific cryptocurrency legislation. The Bank of Jamaica does not regulate or endorse crypto but has not banned it. Jamaica launched its own CBDC, JAM-DEX, in 2022 through the National Commercial Bank. Crypto exists in a legal gray area with no dedicated framework.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
30-34%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finanssivalvonta (FIN-FSA)
Regulator
BOJ (Bank of Jamaica), FSC
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
BOJ launched JAM-DEX CBDC; no private stablecoin regulation
Key Points
- Crypto capital gains taxed at 30% (34% for gains over €30,000 per year)
- FIN-FSA registers and supervises virtual currency providers under AML law
- Finnish Tax Administration actively sends letters to crypto holders based on exchange data
- Losses on crypto can be deducted from capital gains
- MiCA framework applicable from December 2024
Key Points
- No specific cryptocurrency legislation or regulatory framework
- BOJ does not recognize crypto as legal tender but has not banned it
- Jamaica launched the JAM-DEX CBDC in 2022
- FSC Jamaica has not issued specific guidance on crypto asset regulation
- Tax treatment of crypto gains is unclear due to lack of specific guidance