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Finland vs Venezuela

Crypto regulation comparison

← Back to map | Finland | Venezuela
Finland

Finland

Venezuela

Venezuela

Legal
Legal

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.

Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.

Tax Type Capital gains
Tax Type Income
Tax Rate 30-34%
Tax Rate Up to 34%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Finanssivalvonta (FIN-FSA)
Regulator SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
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
  • SUNACRIP regulates crypto exchanges, mining, and service providers
  • Government-backed Petro cryptocurrency launched in 2018, largely discontinued
  • Crypto mining requires SUNACRIP license and registration
  • Very high crypto adoption driven by hyperinflation; USDT widely used
  • Income from crypto subject to progressive tax rates up to 34%
Sources
Sources