Saint Kitts and Nevis vs Sri Lanka
Crypto regulation comparison
Saint Kitts and Nevis
Sri Lanka
Legal
Restricted
Saint Kitts and Nevis has taken a crypto-friendly approach. No income or capital gains tax. The country accepts crypto for citizenship by investment.
Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.
Tax Type
No tax
Tax Type
Unclear
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Regulatory Commission
Regulator
Central Bank of Sri Lanka, Securities and Exchange Commission
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- Crypto-friendly regulatory approach
- No income or capital gains tax
- Citizenship by investment accepts cryptocurrency
- ECCB provides regional monetary oversight
- Growing digital economy initiatives
Key Points
- CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
- No entity authorized to operate crypto exchanges, mining, or advisory services
- Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
- CBSL requested criminal proceedings against crypto pyramid schemes
- SEC discussed as potential future regulatory authority for digital assets