Libya vs Saudi Arabia
Crypto regulation comparison
Libya
Saudi Arabia
Banned
Restricted
Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
No
Mining
No
Mining
Yes
Regulator
Central Bank of Libya
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No regulation; crypto trading not authorized
Key Points
- Central Bank of Libya has warned against cryptocurrency use
- No specific cryptocurrency legislation
- Political instability limits regulatory development
- Crypto used informally despite restrictions
- No licensed crypto exchanges operate
Key Points
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)