Latvia vs Sudan
Crypto regulation comparison
Latvia
Sudan
Legal
Restricted
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.
Sudan has a restrictive financial environment compounded by political instability and historical international sanctions. The central bank has warned against crypto use.
Tax Type
Capital gains
Tax Type
None
Tax Rate
20%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
FKTK (Finanšu un kapitāla tirgus komisija) / Latvijas Banka
Regulator
Central Bank of Sudan
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
- Central bank has warned against cryptocurrency use
- Political instability and conflict limit regulatory development
- Historical international sanctions restrict financial access
- No specific cryptocurrency legislation
- Very limited crypto infrastructure