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Kyrgyzstan vs Madagascar

Crypto regulation comparison

← Back to map | Kyrgyzstan | Madagascar
Kyrgyzstan

Kyrgyzstan

Madagascar

Madagascar

Legal
No Regulation

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.

Madagascar has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto. Crypto operates in a legal gray area.

Tax Type Income
Tax Type None
Tax Rate 10%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator State Financial Supervision Authority
Regulator Banque Centrale de Madagascar
Stablecoin Rules Regulated under Virtual Assets Law
Stablecoin Rules No 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 specific cryptocurrency legislation
  • Central bank has not issued formal crypto guidance
  • Crypto not recognized as legal tender
  • Limited crypto adoption and infrastructure
  • No licensing framework for crypto businesses
Sources
Sources