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Lithuania vs Venezuela

Crypto regulation comparison

← Back to map | Lithuania | Venezuela
Lithuania

Lithuania

Venezuela

Venezuela

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.

Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.

Tax Type Capital gains
Tax Type Income
Tax Rate 15%
Tax Rate Up to 34%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Bank of Lithuania (Lietuvos Bankas)
Regulator SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
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
  • SUNACRIP regulates crypto exchanges, mining, and service providers
  • Government-backed Petro cryptocurrency launched in 2018, largely discontinued
  • Crypto mining requires SUNACRIP license and registration
  • Very high crypto adoption driven by hyperinflation; USDT widely used
  • Income from crypto subject to progressive tax rates up to 34%
Sources
Sources