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Iraq vs Timor-Leste

Crypto regulation comparison

← Back to map | Iraq | Timor-Leste
Iraq

Iraq

Timor-Leste

Timor-Leste

Banned
No Regulation

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.

Timor-Leste has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

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 Banco Central de Timor-Leste
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
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Central bank has not addressed crypto regulation
  • Very limited financial infrastructure
  • Minimal crypto adoption
Sources
Sources