Iraq vs Saint Vincent and the Grenadines
Crypto regulation comparison
Iraq
Saint Vincent and the Grenadines
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.
Saint Vincent and the Grenadines has been a popular jurisdiction for offshore crypto businesses. No income or capital gains tax.
Tax Type
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
CBI (Central Bank of Iraq)
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services 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
- Popular jurisdiction for crypto business registration
- No income or capital gains tax
- Financial Services Authority provides oversight
- ECCB provides regional monetary oversight
- Several crypto exchanges have been registered here