Iran vs Panama
Crypto regulation comparison
Iran
Panama
Restricted
Legal
Iran has a complex stance on cryptocurrency. Crypto mining is legal and licensed by the Ministry of Industry, but using crypto for domestic payments is banned by the CBI. The government has explored using crypto for international trade to circumvent sanctions. Mining operations are periodically shut down during energy shortages.
Panama passed Law 129 in 2024 regulating crypto assets, virtual asset service providers, and tokenized securities. Panama has no capital gains tax on foreign-sourced or investment income, making it attractive for crypto investors. The law provides a regulatory framework for exchanges and establishes AML/KYC obligations for VASPs.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CBI (Central Bank of Iran), Ministry of Industry
Regulator
SBP (Superintendencia de Bancos de Panamá), SMV
Stablecoin Rules
Not applicable; crypto payments and trading domestically restricted
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Crypto mining is legal and licensed by the Ministry of Industry, Mine and Trade
- CBI bans using crypto as a domestic payment method
- Licensed miners must sell mined crypto to the CBI or authorized exporters
- Government has explored crypto for sanctions evasion in international trade
- Mining farms periodically shut down during summer/winter energy demand peaks
Key Points
- Law 129 (2024) regulates crypto assets and VASPs in Panama
- No capital gains tax on investment or foreign-sourced income (territorial tax system)
- VASPs must comply with AML/KYC requirements under the new framework
- Crypto payments for commercial transactions are permitted
- Panama's territorial tax system means crypto gains from international trading are untaxed