Honduras vs Somalia
Crypto regulation comparison
Honduras
Somalia
No Regulation
No Regulation
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.
Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCH (Banco Central de Honduras), CNBS
Regulator
Central Bank of Somalia
Stablecoin Rules
No stablecoin-specific regulation
Stablecoin Rules
No stablecoin regulation
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
- No specific cryptocurrency legislation
- Fragmented governance limits regulatory development
- Mobile money dominates informal financial system
- Very limited formal financial infrastructure
- No licensing framework for crypto services