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Latvia vs Nauru

Crypto regulation comparison

← Back to map | Latvia | Nauru
Latvia

Latvia

Nauru

Nauru

Legal
Legal

Cryptocurrency is legal in Latvia and regulated under the EU MiCA framework. Since 2023, the financial regulator FKTK merged into Latvijas Banka, which now oversees VASP registration and AML compliance. Capital gains from crypto are taxed at 20%. Latvia has been proactive in implementing EU-wide crypto standards.

Nauru has no specific cryptocurrency regulation.

Tax Type Capital gains
Tax Type None
Tax Rate 20%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator FKTK (Finanšu un kapitāla tirgus komisija) / Latvijas Banka
Regulator Command Ridge Virtual Asset Authority (CRVAA)
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules No stablecoin regulation
Key Points
  • VASPs must register with Latvijas Banka and comply with AML/CFT requirements
  • Capital gains from crypto taxed at 20% personal income tax rate
  • MiCA framework applies from December 2024, transitioning existing registrations
  • Latvia transposed the 5th Anti-Money Laundering Directive for crypto oversight
  • Latvijas Banka absorbed FKTK regulatory functions in January 2023
Key Points
  • No specific cryptocurrency legislation
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • One of the world's smallest economies
  • No licensing framework for crypto services
Sources
Sources