Kenya vs Romania
Crypto regulation comparison
Kenya
Romania
No Regulation
Legal
Kenya has no comprehensive cryptocurrency legislation, though it is one of Africa's leading crypto markets by adoption. The Central Bank has issued warnings but no formal ban. Kenya's 2023 Finance Act introduced a 3% Digital Asset Tax on income from digital asset transfers, signaling growing regulatory attention.
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
Varies
Tax Type
Capital gains
Tax Rate
1.5-3% (proposed digital asset tax)
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CBK (Central Bank of Kenya), CMA (Capital Markets Authority)
Regulator
ASF (Autoritatea de Supraveghere Financiară), BNR (National Bank of Romania)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
Key Points
- No specific cryptocurrency legislation, but the 2023 Finance Act introduced a 3% Digital Asset Tax
- CBK has issued multiple warnings about crypto but has not imposed a ban
- CMA considering a framework for digital asset regulation
- Kenya consistently ranks among the top countries globally for crypto adoption (P2P volume)
- M-Pesa mobile money dominance shapes how Kenyans access crypto via P2P exchanges
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