Iraq vs Montenegro
Crypto regulation comparison
Iraq
Montenegro
Banned
Legal
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.
Montenegro has no specific crypto law but crypto is not prohibited. Working toward EU candidacy and potential MiCA alignment. Capital gains taxed under general provisions.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
9-15%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
CBI (Central Bank of Iraq)
Regulator
Central Bank of Montenegro, Capital Market Authority
Stablecoin Rules
Not applicable; crypto activities prohibited
Stablecoin Rules
No specific 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
- No specific cryptocurrency legislation but crypto is legal
- Working toward EU candidacy and MiCA alignment
- Capital gains on crypto taxed at 9-15%
- Central Bank has acknowledged crypto without banning it
- Growing interest in crypto-friendly policies