Guatemala vs Seychelles
Crypto regulation comparison
Guatemala
Seychelles
No Regulation
Legal
Guatemala has no specific cryptocurrency regulation. The Banco de Guatemala has stated that crypto is not legal tender and not backed by the central bank, but has not banned its use. Crypto usage exists primarily for remittances from the US-based diaspora.
The VASP Act 2024 effective Sept 2024 establishes FSA as regulator for virtual asset service providers. Exchanges require licensing. Mining and mixer/tumbler services are prohibited in Seychelles.
Tax Type
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
Banguat (Banco de Guatemala), SIB
Regulator
Financial Services Authority (FSA)
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
Regulated under VASP Act 2024
Key Points
- No specific cryptocurrency legislation exists
- Banguat has warned that crypto is not legal tender and not government-backed
- Crypto is neither explicitly legal nor illegal for private use
- Remittance use case is significant given large diaspora in the US
- Tax treatment of crypto gains is unclear
Key Points
- VASP Act 2024 enacted Aug 30, effective Sept 1, 2024
- FSA licenses and supervises all virtual asset service providers
- Mining facilities and mixer/tumbler services prohibited
- VASPs must maintain local office and resident director
- Licensed IBC VASPs taxed at 1.5% on assessable income