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Cambodia vs Venezuela

Crypto regulation comparison

← Back to map | Cambodia | Venezuela
Cambodia

Cambodia

Venezuela

Venezuela

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.

Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.

Tax Type Unclear
Tax Type Income
Tax Rate N/A
Tax Rate Up to 34%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator National Bank of Cambodia (NBC), SERC
Regulator SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
Stablecoin Rules Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
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
  • SUNACRIP regulates crypto exchanges, mining, and service providers
  • Government-backed Petro cryptocurrency launched in 2018, largely discontinued
  • Crypto mining requires SUNACRIP license and registration
  • Very high crypto adoption driven by hyperinflation; USDT widely used
  • Income from crypto subject to progressive tax rates up to 34%
Sources
Sources