Cambodia vs Slovakia
Crypto regulation comparison
Cambodia
Slovakia
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 Slovakia and regulated under EU MiCA framework since December 2024. A 7% reduced tax rate for long-term holdings was passed in 2023 but repealed by the consolidation package before taking effect. Crypto gains are taxed at standard income tax rates of 19-25%. VASPs must be authorized by NBS under MiCA.
Tax Type
Unclear
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
19-25%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Cambodia (NBC), SERC
Regulator
NBS (Národná banka Slovenska)
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Stablecoin Rules
Regulated under EU MiCA framework
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
- 7% tax rate for long-term holdings was passed in 2023 but repealed before taking effect
- Crypto gains taxed at 19% (income up to €47,537) or 25% (above threshold)
- VASPs must register with NBS for AML/CFT compliance
- MiCA framework applicable since 30 December 2024; NBS grants authorizations
- MiCA framework applicable from December 2024