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Luxembourg vs Uzbekistan

Crypto regulation comparison

← Back to map | Luxembourg | Uzbekistan
Luxembourg

Luxembourg

Uzbekistan

Uzbekistan

Legal
Legal

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.

Uzbekistan has actively regulated crypto since 2018, when it established the NAPM (initially NAPCI) to oversee virtual assets. Licensed crypto exchanges operate in a regulatory sandbox. Individual crypto trading profits are exempt from tax. Uzbekistan has also established a state-backed mining pool and licensing regime for miners, leveraging its energy resources.

Tax Type Capital gains
Tax Type None
Tax Rate 0-42%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CSSF (Commission de Surveillance du Secteur Financier)
Regulator NAPM (National Agency for Prospective Projects)
Stablecoin Rules Regulated under EU MiCA framework; Luxembourg hosts major stablecoin issuers
Stablecoin Rules Regulated under NAPM virtual asset framework
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
  • NAPM oversees virtual asset regulation and licensing
  • Licensed exchanges operate under regulatory framework since 2018
  • Individual crypto trading exempt from income tax
  • State-backed mining pool and licensing for crypto miners
  • Only licensed platforms can offer crypto services; unlicensed platforms blocked
Sources
Sources