BTC $66,916.00 (-0.86%)
ETH $1,969.13 (-1.20%)
XRP $1.43 (-3.56%)
BNB $607.01 (-1.84%)
SOL $81.71 (-3.67%)
TRX $0.28 (-0.39%)
DOGE $0.10 (-2.47%)
BCH $556.75 (-0.95%)
ADA $0.27 (-3.10%)
LEO $8.61 (-0.79%)
HYPE $28.58 (-2.55%)
CC $0.16 (-2.95%)
LINK $8.66 (-2.43%)
XMR $327.28 (-1.56%)
XLM $0.16 (-2.60%)
RAIN $0.01 (-1.43%)
ZEC $264.35 (-10.84%)
HBAR $0.10 (-2.48%)
LTC $53.48 (-1.30%)
AVAX $8.91 (-2.20%)

Kuwait vs Mongolia

Crypto regulation comparison

← Back to map | Kuwait | Mongolia
Kuwait

Kuwait

Mongolia

Mongolia

Restricted
Legal

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.

Mongolia adopted the Law on Virtual Asset Service Providers (VPSP) in December 2021, establishing a comprehensive regulatory framework. The Financial Regulatory Commission (FRC) registers and supervises crypto exchanges. Over 12 licensed exchanges serve 850,000+ customers. Crypto mining is legal and growing, with tax incentives for renewable energy use.

Tax Type None
Tax Type Income
Tax Rate 0%
Tax Rate 10-25%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CBK (Central Bank of Kuwait), CMA
Regulator Financial Regulatory Commission (FRC) of Mongolia
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No specific 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
  • Law on Virtual Asset Service Providers (VPSP) adopted December 2021
  • FRC registers and supervises crypto exchanges under VPSP law
  • Over 12 licensed exchanges serving 850,000+ customers
  • Crypto exchange income is taxable and exempt from VAT
  • Mongolia launched blockchain-based OTC securities trading in 2025
Sources
Sources