Jamaica vs Romania
Crypto regulation comparison
Jamaica
Romania
No Regulation
Legal
Jamaica has no specific cryptocurrency legislation. The Bank of Jamaica does not regulate or endorse crypto but has not banned it. Jamaica launched its own CBDC, JAM-DEX, in 2022 through the National Commercial Bank. Crypto exists in a legal gray area with no dedicated framework.
Cryptocurrency is legal in Romania. Crypto gains are taxed at 10% as 'income from other sources' under the fiscal code. VASPs must register with the relevant authorities for AML compliance. Romania has a growing crypto community and is transitioning to the EU MiCA framework.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BOJ (Bank of Jamaica), FSC
Regulator
ASF (Autoritatea de Supraveghere Financiară), BNR (National Bank of Romania)
Stablecoin Rules
BOJ launched JAM-DEX CBDC; no private stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- No specific cryptocurrency legislation or regulatory framework
- BOJ does not recognize crypto as legal tender but has not banned it
- Jamaica launched the JAM-DEX CBDC in 2022
- FSC Jamaica has not issued specific guidance on crypto asset regulation
- Tax treatment of crypto gains is unclear due to lack of specific guidance
Key Points
- Crypto gains taxed at 10% as 'income from other sources' under Article 114 Fiscal Code
- Annual gains up to RON 600 (~EUR 120) exempt from tax per Article 116 Fiscal Code
- VASPs must register for AML/CFT compliance
- ASF oversees financial market conduct; BNR handles monetary policy
- MiCA framework applicable from December 2024