Luxembourg vs Maldives
Crypto regulation comparison
Luxembourg
Maldives
Legal
Restricted
Luxembourg is a major European hub for crypto and blockchain financial services. The CSSF regulates VASPs and crypto-related investment funds. Crypto held for more than 6 months is generally exempt from capital gains tax for individuals, making it attractive for long-term holders. Luxembourg hosts several prominent crypto exchanges and fund administrators.
The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.
Tax Type
Capital gains
Tax Type
None
Tax Rate
0-42%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
CSSF (Commission de Surveillance du Secteur Financier)
Regulator
Maldives Monetary Authority (MMA)
Stablecoin Rules
Regulated under EU MiCA framework; Luxembourg hosts major stablecoin issuers
Stablecoin Rules
No stablecoin regulation
Key Points
- CSSF oversees VASPs under the Luxembourg AML/CFT framework
- Individuals holding crypto for 6+ months are generally exempt from capital gains tax
- Short-term gains taxed at progressive income tax rates up to 42%
- Major hub for crypto investment funds and blockchain companies
- MiCA framework fully applicable from December 2024
Key Points
- MMA has warned against cryptocurrency use
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- Limited crypto adoption