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Jamaica vs Turkmenistan

Crypto regulation comparison

← Back to map | Jamaica | Turkmenistan
Jamaica

Jamaica

Turkmenistan

Turkmenistan

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.

Turkmenistan enacted the Law on Virtual Assets effective January 2026, legalizing crypto exchanges and mining under Central Bank licensing. Crypto is treated as property, not legal tender.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BOJ (Bank of Jamaica), FSC
Regulator Central Bank of Turkmenistan
Stablecoin Rules BOJ launched JAM-DEX CBDC; no private stablecoin regulation
Stablecoin Rules Regulated under Virtual Assets Law
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
  • Law on Virtual Assets enacted November 2025, effective January 2026
  • Crypto exchanges and mining require Central Bank licensing
  • Crypto treated as property, not legal tender
  • Banks prohibited from directly providing crypto services
  • Low electricity costs attract mining operations
Sources
Sources