Lithuania vs Oman
Crypto regulation comparison
Lithuania
Oman
Legal
Legal
Cryptocurrency is legal and regulated in Lithuania. The Bank of Lithuania oversees VASPs under AML regulations and has been an early mover in crypto regulation within the EU. Lithuania attracted a large number of VASP registrations due to initially favorable conditions, though it tightened requirements significantly in 2022-2023. The MiCA framework now applies.
Oman has moved to regulate cryptocurrency with the Capital Market Authority issuing a Virtual Assets Regulatory Framework in 2023. VASP licensing is being implemented, and Oman has attracted crypto mining operations due to its energy resources. There is no personal income or capital gains tax in Oman.
Tax Type
Capital gains
Tax Type
None
Tax Rate
15%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Bank of Lithuania (Lietuvos Bankas)
Regulator
CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
Under development within CMSA virtual asset framework
Key Points
- VASPs must register with the Bank of Lithuania under AML/CFT law
- Capital gains from crypto taxed at 15% personal income tax rate
- Lithuania became a major EU hub for crypto companies; over 500 VASPs registered by 2022
- Tightened VASP requirements in 2022-2023, including local substance and capital requirements
- MiCA transition underway from December 2024
Key Points
- CMA issued the Virtual Assets Regulatory Framework in 2023
- VASP licensing regime being implemented under CMA oversight
- No personal income or capital gains tax in Oman
- Oman has attracted large-scale crypto mining operations leveraging its energy sector
- CBO has issued warnings but not banned crypto for individuals