Kuwait vs Liberia
Crypto regulation comparison
Kuwait
Liberia
Restricted
Restricted
Kuwait has taken a restrictive approach to cryptocurrency. The Central Bank of Kuwait and the Capital Markets Authority have prohibited banks and financial institutions from processing crypto transactions. There is no licensing framework for crypto exchanges. However, owning crypto is not explicitly illegal, and there is no personal income tax in Kuwait, so no crypto-specific tax applies.
The CBL has not issued crypto licenses and considers unauthorized crypto products illegal. No specific crypto legislation exists but the Financial Institutions Act requires licensing for all financial services.
Tax Type
None
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CBK (Central Bank of Kuwait), CMA
Regulator
Central Bank of Liberia
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- CBK prohibits banks and financial institutions from dealing in virtual currencies
- No licensing framework exists for crypto exchanges or VASPs
- Personal ownership of crypto is not explicitly criminalized
- No personal income or capital gains tax in Kuwait applies to crypto
- CMA has warned investors about the risks of cryptocurrency
Key Points
- CBL has not approved any crypto licensing
- Unauthorized crypto products deemed illegal under Financial Institutions Act
- CBL shut down local crypto startup TACC in 2021
- No specific crypto tax framework
- Very low crypto adoption due to limited internet access