Cambodia vs Monaco
Crypto regulation comparison
Cambodia
Monaco
Restricted
Legal
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
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
Unclear
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Cambodia (NBC), SERC
Regulator
Commission de Contrôle des Activités Financières (CCAF)
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Stablecoin Rules
No specific stablecoin regulation
Key Points
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant
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