Greece vs Saudi Arabia
Crypto regulation comparison
Greece
Saudi Arabia
Legal
Restricted
Cryptocurrency is legal in Greece and regulated under the EU framework. A 2024 tax reform established a 15% tax on crypto capital gains, replacing the prior uncertain treatment. The Hellenic Capital Market Commission oversees crypto service provider registration.
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
Capital gains
Tax Type
None
Tax Rate
15%
Tax Rate
0%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
HCMC (Hellenic Capital Market Commission), Bank of Greece
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No regulation; crypto trading not authorized
Key Points
- 15% capital gains tax on crypto established under recent tax reforms
- HCMC registers and supervises crypto service providers
- Greece adopted EU AML directives for crypto businesses
- MiCA framework applicable from December 2024
- Crypto adoption grew during the 2015 financial crisis and capital controls
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)