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Iran vs Saudi Arabia

Crypto regulation comparison

← Back to map | Iran | Saudi Arabia
Iran

Iran

Saudi Arabia

Saudi Arabia

Restricted
Restricted

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.

Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate 0%
Exchanges No No
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator CBI (Central Bank of Iran), Ministry of Industry
Regulator SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules Not applicable; crypto payments and trading domestically restricted
Stablecoin Rules No regulation; crypto trading not authorized
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
  • SAMA has not authorized or licensed any cryptocurrency exchanges
  • Financial institutions warned against crypto transactions
  • Crypto not explicitly banned but not regulated; exists in a legal gray area
  • No personal income or capital gains tax in Saudi Arabia
  • Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
Sources
Sources