Micronesia vs Saudi Arabia
Crypto regulation comparison
Micronesia
Saudi Arabia
No Regulation
Restricted
Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Department of Finance and Administration
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No regulation; crypto trading not authorized
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
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)