Saint Kitts and Nevis vs Latvia
Crypto regulation comparison
Saint Kitts and Nevis
Latvia
Legal
Legal
Saint Kitts and Nevis has taken a crypto-friendly approach. No income or capital gains tax. The country accepts crypto for citizenship by investment.
Cryptocurrency is legal in Latvia and regulated under the EU MiCA framework. Since 2023, the financial regulator FKTK merged into Latvijas Banka, which now oversees VASP registration and AML compliance. Capital gains from crypto are taxed at 20%. Latvia has been proactive in implementing EU-wide crypto standards.
Tax Type
No tax
Tax Type
Capital gains
Tax Rate
0%
Tax Rate
20%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Regulatory Commission
Regulator
FKTK (Finanšu un kapitāla tirgus komisija) / Latvijas Banka
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
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
- VASPs must register with Latvijas Banka and comply with AML/CFT requirements
- Capital gains from crypto taxed at 20% personal income tax rate
- MiCA framework applies from December 2024, transitioning existing registrations
- Latvia transposed the 5th Anti-Money Laundering Directive for crypto oversight
- Latvijas Banka absorbed FKTK regulatory functions in January 2023