Lebanon vs San Marino
Crypto regulation comparison
Lebanon
San Marino
No Regulation
Legal
Lebanon has no specific cryptocurrency legislation. The Banque du Liban issued a 2014 circular warning financial institutions against dealing with digital currencies, but crypto itself is not banned. Amid the severe economic crisis and banking collapse since 2019, crypto adoption has surged as citizens seek alternatives to the devalued Lebanese pound.
San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BDL (Banque du Liban)
Regulator
Central Bank of San Marino, AIF (Financial Information Agency)
Stablecoin Rules
No regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- BDL Circular 318 (2014) warned banks against dealing in crypto but did not ban it outright
- No dedicated crypto regulatory framework or licensing regime
- Severe banking crisis and capital controls have driven crypto adoption
- Crypto used as a store of value and remittance channel during economic collapse
- No specific crypto taxation rules in place
Key Points
- Delegated Decree on blockchain technology entities issued
- Licenses issued for blockchain-based businesses
- AIF provides regulatory oversight
- Small jurisdiction working to attract blockchain companies
- Developing comprehensive digital asset regulation