Kyrgyzstan vs Monaco
Crypto regulation comparison
Kyrgyzstan
Monaco
Legal
Legal
Kyrgyzstan adopted the Law on Virtual Assets in 2022 requiring licensing for exchanges, mining, and VASPs. Over 120 licensed VASPs operate. Crypto turnover exceeded traditional securities market in 2024.
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
Income
Tax Type
No tax
Tax Rate
10%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
State Financial Supervision Authority
Regulator
Commission de Contrôle des Activités Financières (CCAF)
Stablecoin Rules
Regulated under Virtual Assets Law
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Law on Virtual Assets adopted in 2022 with licensing framework
- Over 120 licensed VASPs active by late 2024
- Three license types: trading operator, currency exchanger, mining operator
- Crypto sector contributed 800M KGS in taxes in 2024
- Virtual assets not recognized as legal tender but circulate under special regime
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