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Micronesia vs Jamaica

Crypto regulation comparison

← Back to map | Micronesia | Jamaica
Micronesia

Micronesia

Jamaica

Jamaica

No Regulation
No Regulation

Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

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 None
Tax Type Unclear
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Department of Finance and Administration
Regulator BOJ (Bank of Jamaica), FSC
Stablecoin Rules No stablecoin regulation
Stablecoin Rules BOJ launched JAM-DEX CBDC; no private stablecoin regulation
Key Points
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
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
Sources
Sources