Honduras vs Iceland
Crypto regulation comparison
Honduras
Iceland
No Regulation
Legal
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.
Cryptocurrency is legal in Iceland and subject to a 22% capital gains tax. Iceland is a major crypto mining destination due to abundant geothermal and hydroelectric energy. As an EEA member, Iceland follows EU financial regulations including MiCA through EEA incorporation.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
22%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCH (Banco Central de Honduras), CNBS
Regulator
FME (Fjármálaeftirlitið / Financial Supervisory Authority), Central Bank of Iceland
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
No specific stablecoin regulation; follows EEA guidelines
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
- 22% capital gains tax on crypto profits
- Iceland is one of the world's largest crypto mining locations due to cheap renewable energy
- FME supervises crypto businesses under AML/KYC regulations
- As an EEA member, Iceland incorporates EU financial regulations including MiCA
- Capital controls (imposed 2008-2017) originally complicated crypto usage but have been lifted