Israel vs Venezuela
Crypto regulation comparison
Israel
Venezuela
Legal
Legal
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.
Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.
Tax Type
Capital gains
Tax Type
Income
Tax Rate
25-50%
Tax Rate
Up to 34%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
ISA (Israel Securities Authority), ITA (Israel Tax Authority), CTMFA
Regulator
SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules
No specific stablecoin regulation; ISA exploring digital asset framework
Stablecoin Rules
Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
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
- SUNACRIP regulates crypto exchanges, mining, and service providers
- Government-backed Petro cryptocurrency launched in 2018, largely discontinued
- Crypto mining requires SUNACRIP license and registration
- Very high crypto adoption driven by hyperinflation; USDT widely used
- Income from crypto subject to progressive tax rates up to 34%