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Latvia vs Timor-Leste

Crypto regulation comparison

← Back to map | Latvia | Timor-Leste
Latvia

Latvia

Timor-Leste

Timor-Leste

Legal
No Regulation

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.

Timor-Leste has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

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 Banco Central de Timor-Leste
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
  • Uses the US dollar as official currency
  • Central bank has not addressed crypto regulation
  • Very limited financial infrastructure
  • Minimal crypto adoption
Sources
Sources