Cambodia vs Norway
Crypto regulation comparison
Cambodia
Norway
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.
Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.
Tax Type
Unclear
Tax Type
Wealth and capital gains
Tax Rate
N/A
Tax Rate
22% (gains) + 1.1% (wealth)
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Cambodia (NBC), SERC
Regulator
Finanstilsynet (Financial Supervisory Authority)
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
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
- Crypto capital gains taxed at 22% flat rate
- Crypto included in wealth tax base (~1.1% on net wealth above threshold)
- VASPs must register with Finanstilsynet and comply with AML/CFT requirements
- Norway is a major crypto mining hub due to cheap hydroelectric power
- EEA member; MiCA implementation expected through EEA Agreement adaptation