Jamaica vs Saint Vincent and the Grenadines
Crypto regulation comparison
Jamaica
Saint Vincent and the Grenadines
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.
Saint Vincent and the Grenadines has been a popular jurisdiction for offshore crypto businesses. No income or capital gains tax.
Tax Type
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BOJ (Bank of Jamaica), FSC
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Authority
Stablecoin Rules
BOJ launched JAM-DEX CBDC; no private stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
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
- Popular jurisdiction for crypto business registration
- No income or capital gains tax
- Financial Services Authority provides oversight
- ECCB provides regional monetary oversight
- Several crypto exchanges have been registered here