Micronesia vs Lithuania
Crypto regulation comparison
Micronesia
Lithuania
No Regulation
Legal
Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
Cryptocurrency is legal and regulated in Lithuania. The Bank of Lithuania oversees VASPs under AML regulations and has been an early mover in crypto regulation within the EU. Lithuania attracted a large number of VASP registrations due to initially favorable conditions, though it tightened requirements significantly in 2022-2023. The MiCA framework now applies.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Department of Finance and Administration
Regulator
Bank of Lithuania (Lietuvos Bankas)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
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
- VASPs must register with the Bank of Lithuania under AML/CFT law
- Capital gains from crypto taxed at 15% personal income tax rate
- Lithuania became a major EU hub for crypto companies; over 500 VASPs registered by 2022
- Tightened VASP requirements in 2022-2023, including local substance and capital requirements
- MiCA transition underway from December 2024