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Iraq vs Liberia

Crypto regulation comparison

← Back to map | Iraq | Liberia
Iraq

Iraq

Liberia

Liberia

Banned
Restricted

Iraq has banned cryptocurrency dealings. The Central Bank of Iraq issued a directive in 2017 prohibiting banks, financial institutions, and exchange companies from dealing in cryptocurrency. Despite the ban, some underground and peer-to-peer crypto trading reportedly persists.

The CBL has not issued crypto licenses and considers unauthorized crypto products illegal. No specific crypto legislation exists but the Financial Institutions Act requires licensing for all financial services.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator CBI (Central Bank of Iraq)
Regulator Central Bank of Liberia
Stablecoin Rules Not applicable; crypto activities prohibited
Stablecoin Rules No stablecoin regulation
Key Points
  • CBI banned all crypto dealings by financial institutions in 2017
  • Exchange companies are prohibited from handling cryptocurrency
  • No regulatory framework for crypto businesses
  • Underground and P2P crypto trading reportedly exists despite the ban
  • The ban is motivated by AML concerns and financial stability considerations
Key Points
  • CBL has not approved any crypto licensing
  • Unauthorized crypto products deemed illegal under Financial Institutions Act
  • CBL shut down local crypto startup TACC in 2021
  • No specific crypto tax framework
  • Very low crypto adoption due to limited internet access
Sources
Sources