Honduras vs Latvia
Crypto regulation comparison
Honduras
Latvia
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 Latvia and regulated under the EU MiCA framework. Since 2023, the financial regulator FKTK merged into Latvijas Banka, which now oversees VASP registration and AML compliance. Capital gains from crypto are taxed at 20%. Latvia has been proactive in implementing EU-wide crypto standards.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
20%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCH (Banco Central de Honduras), CNBS
Regulator
FKTK (Finanšu un kapitāla tirgus komisija) / Latvijas Banka
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
Regulated under EU MiCA framework
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
- VASPs must register with Latvijas Banka and comply with AML/CFT requirements
- Capital gains from crypto taxed at 20% personal income tax rate
- MiCA framework applies from December 2024, transitioning existing registrations
- Latvia transposed the 5th Anti-Money Laundering Directive for crypto oversight
- Latvijas Banka absorbed FKTK regulatory functions in January 2023