Fiji vs Iceland
Crypto regulation comparison
Fiji
Iceland
Banned
Legal
All cryptocurrency and virtual asset services banned since August 2025; RBF has not licensed any VASP; penalties up to M fine or 14 years imprisonment
Cryptocurrency is legal in Iceland and subject to a 22% capital gains tax. Iceland is a major crypto mining destination due to abundant geothermal and hydroelectric energy. As an EEA member, Iceland follows EU financial regulations including MiCA through EEA incorporation.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
22%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Reserve Bank of Fiji
Regulator
FME (Fjármálaeftirlitið / Financial Supervisory Authority), Central Bank of Iceland
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation; follows EEA guidelines
Key Points
- No specific cryptocurrency legislation
- Reserve Bank warns about crypto risks
- Crypto not recognized as legal tender
- Limited crypto adoption
- No licensing framework for crypto services
Key Points
- 22% capital gains tax on crypto profits
- Iceland is one of the world's largest crypto mining locations due to cheap renewable energy
- FME supervises crypto businesses under AML/KYC regulations
- As an EEA member, Iceland incorporates EU financial regulations including MiCA
- Capital controls (imposed 2008-2017) originally complicated crypto usage but have been lifted