Finland vs Maldives
Crypto regulation comparison
Finland
Maldives
Legal
Restricted
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.
The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.
Tax Type
Capital gains
Tax Type
None
Tax Rate
30-34%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Finanssivalvonta (FIN-FSA)
Regulator
Maldives Monetary Authority (MMA)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No 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
- MMA has warned against cryptocurrency use
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- Limited crypto adoption