Fiji vs Portugal
Crypto regulation comparison
Fiji
Portugal
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
Portugal was formerly a crypto tax haven with 0% capital gains tax on crypto for individuals, but the 2023 State Budget introduced a 28% capital gains tax on crypto held for less than one year. Crypto held for over 365 days remains tax-free for individuals. Banco de Portugal registers VASPs for AML compliance, and Portugal transitions to MiCA. Portugal attracted many crypto entrepreneurs due to its previously favorable tax regime and NHR (Non-Habitual Resident) program.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
28%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Reserve Bank of Fiji
Regulator
Banco de Portugal, CMVM (Securities Market Commission)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
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
- 28% capital gains tax on crypto sold within 365 days (introduced in 2023 budget)
- Crypto held for more than 365 days is exempt from capital gains tax for individuals
- Banco de Portugal oversees VASP registration for AML/CFT compliance
- CMVM regulates crypto where classified as securities
- Former 0% tax regime attracted crypto entrepreneurs; NHR tax regime phased out in 2024