Honduras vs Iraq
Crypto regulation comparison
Honduras
Iraq
No Regulation
Banned
Honduras has no specific cryptocurrency legislation. The Central Bank and CNBS have issued warnings about crypto risks but have not banned it. The Special Economic Zone of Prospera on Roatán island adopted Bitcoin as legal tender in its jurisdiction, though this is a unique local arrangement.
Iraq has banned cryptocurrency dealings. The Central Bank of Iraq issued a directive in 2017 prohibiting banks, financial institutions, and exchange companies from dealing in cryptocurrency. Despite the ban, some underground and peer-to-peer crypto trading reportedly persists.
Tax Type
Unclear
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
BCH (Banco Central de Honduras), CNBS
Regulator
CBI (Central Bank of Iraq)
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
Not applicable; crypto activities prohibited
Key Points
- No national cryptocurrency legislation exists
- BCH and CNBS issued warnings about risks but no formal ban
- Prospera (ZEDE on Roatán) recognized Bitcoin as legal tender locally
- Crypto use exists primarily through peer-to-peer channels
- No specific tax guidance for cryptocurrency gains
Key Points
- CBI banned all crypto dealings by financial institutions in 2017
- Exchange companies are prohibited from handling cryptocurrency
- No regulatory framework for crypto businesses
- Underground and P2P crypto trading reportedly exists despite the ban
- The ban is motivated by AML concerns and financial stability considerations