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Kuwait vs Saudi Arabia

Crypto regulation comparison

← Back to map | Kuwait | Saudi Arabia
Kuwait

Kuwait

Saudi Arabia

Saudi Arabia

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.

Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.

Tax Type None
Tax Type None
Tax Rate 0%
Tax Rate 0%
Exchanges No No
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator CBK (Central Bank of Kuwait), CMA
Regulator SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No regulation; crypto trading not authorized
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
  • SAMA has not authorized or licensed any cryptocurrency exchanges
  • Financial institutions warned against crypto transactions
  • Crypto not explicitly banned but not regulated; exists in a legal gray area
  • No personal income or capital gains tax in Saudi Arabia
  • Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
Sources
Sources