Israel vs Madagascar
Crypto regulation comparison
Israel
Madagascar
Legal
No Regulation
Cryptocurrency is legal in Israel and treated as a taxable asset. The Israel Tax Authority classifies crypto as property, subject to 25% capital gains tax (or up to 50% for significant shareholders or high earners). Israel has a vibrant blockchain ecosystem with many startups and R&D centers.
Madagascar has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto. Crypto operates in a legal gray area.
Tax Type
Capital gains
Tax Type
None
Tax Rate
25-50%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
ISA (Israel Securities Authority), ITA (Israel Tax Authority), CTMFA
Regulator
Banque Centrale de Madagascar
Stablecoin Rules
No specific stablecoin regulation; ISA exploring digital asset framework
Stablecoin Rules
No stablecoin regulation
Key Points
- Capital gains tax of 25% on crypto profits (up to 50% including surtax for high earners)
- Israel Tax Authority classifies cryptocurrency as property, not currency
- ISA is developing a regulatory framework for digital asset trading platforms
- AML/KYC requirements apply to crypto service providers under CTMFA supervision
- Israel has one of the highest densities of blockchain startups globally
Key Points
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Crypto not recognized as legal tender
- Limited crypto adoption and infrastructure
- No licensing framework for crypto businesses