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Iceland vs Monaco

Crypto regulation comparison

← Back to map | Iceland | Monaco
Iceland

Iceland

Monaco

Monaco

Legal
Legal

Cryptocurrency is legal in Iceland and subject to a 22% capital gains tax. Iceland is a major crypto mining destination due to abundant geothermal and hydroelectric energy. As an EEA member, Iceland follows EU financial regulations including MiCA through EEA incorporation.

Monaco has no income or capital gains tax. The CCAF oversees financial activities. Monaco has shown interest in blockchain technology and digital assets.

Tax Type Capital gains
Tax Type No tax
Tax Rate 22%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FME (Fjármálaeftirlitið / Financial Supervisory Authority), Central Bank of Iceland
Regulator Commission de Contrôle des Activités Financières (CCAF)
Stablecoin Rules No specific stablecoin regulation; follows EEA guidelines
Stablecoin Rules No specific stablecoin regulation
Key Points
  • 22% capital gains tax on crypto profits
  • Iceland is one of the world's largest crypto mining locations due to cheap renewable energy
  • FME supervises crypto businesses under AML/KYC regulations
  • As an EEA member, Iceland incorporates EU financial regulations including MiCA
  • Capital controls (imposed 2008-2017) originally complicated crypto usage but have been lifted
Key Points
  • No income or capital gains tax
  • CCAF provides financial regulatory oversight
  • Government has shown interest in blockchain technology
  • Working on digital asset regulatory framework
  • Small but active fintech community
Sources
Sources