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Iraq vs Libya

Crypto regulation comparison

← Back to map | Iraq | Libya
Iraq

Iraq

Libya

Libya

Banned
Banned

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.

Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining No No
Mining No No
Regulator CBI (Central Bank of Iraq)
Regulator Central Bank of Libya
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
  • Central Bank of Libya has warned against cryptocurrency use
  • No specific cryptocurrency legislation
  • Political instability limits regulatory development
  • Crypto used informally despite restrictions
  • No licensed crypto exchanges operate
Sources
Sources
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