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HYPE $28.22 (-2.87%)
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CC $0.16 (-4.46%)
LINK $8.51 (-3.02%)
XLM $0.16 (-4.02%)
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AVAX $8.77 (-3.04%)

Sri Lanka vs New Zealand

Crypto regulation comparison

← Back to map | Sri Lanka | New Zealand
Sri Lanka

Sri Lanka

New Zealand

New Zealand

Restricted
Legal

Sri Lanka has no specific cryptocurrency legislation. The CBSL has issued multiple warnings (2018, 2021, 2022, 2023) about crypto risks and has not authorized any entity to operate crypto exchanges, mining, or advisory services. Use of debit/credit cards for crypto is prohibited under the Foreign Exchange Act. The SEC has been discussed as a potential future regulator.

Cryptocurrency is legal in New Zealand and treated as a form of property for tax purposes. The IRD taxes crypto depending on the purpose of acquisition — if bought with the intention to sell, gains are taxable income. New Zealand does not have a formal capital gains tax, but crypto profits are often taxable under income tax rules. Exchanges are not specifically licensed but must comply with AML/CFT requirements.

Tax Type Unclear
Tax Type Income
Tax Rate N/A
Tax Rate 10.5-39%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Central Bank of Sri Lanka, Securities and Exchange Commission
Regulator FMA (Financial Markets Authority), IRD (Inland Revenue)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No specific stablecoin regulation
Key Points
  • CBSL has issued repeated warnings about crypto risks (2018, 2021, 2022, 2023)
  • No entity authorized to operate crypto exchanges, mining, or advisory services
  • Use of debit/credit cards for crypto prohibited under Foreign Exchange Act
  • CBSL requested criminal proceedings against crypto pyramid schemes
  • SEC discussed as potential future regulatory authority for digital assets
Key Points
  • Crypto treated as property; gains taxable if acquired with intent to dispose
  • No formal capital gains tax, but income tax applies to crypto trading profits
  • Tax rates from 10.5% to 39% depending on income bracket
  • Crypto salary payments are treated as taxable income
  • Exchanges must comply with AML/CFT Act and register as reporting entities with DIA
Sources
Sources