Monaco vs Mongolia
Crypto regulation comparison
Monaco
Mongolia
Legal
Legal
Monaco has no income or capital gains tax. The CCAF oversees financial activities. Monaco has shown interest in blockchain technology and digital assets.
Mongolia adopted the Law on Virtual Asset Service Providers (VPSP) in December 2021, establishing a comprehensive regulatory framework. The Financial Regulatory Commission (FRC) registers and supervises crypto exchanges. Over 12 licensed exchanges serve 850,000+ customers. Crypto mining is legal and growing, with tax incentives for renewable energy use.
Tax Type
No tax
Tax Type
Income
Tax Rate
0%
Tax Rate
10-25%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Commission de Contrôle des Activités Financières (CCAF)
Regulator
Financial Regulatory Commission (FRC) of Mongolia
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- No income or capital gains tax
- CCAF provides financial regulatory oversight
- Government has shown interest in blockchain technology
- Working on digital asset regulatory framework
- Small but active fintech community
Key Points
- Law on Virtual Asset Service Providers (VPSP) adopted December 2021
- FRC registers and supervises crypto exchanges under VPSP law
- Over 12 licensed exchanges serving 850,000+ customers
- Crypto exchange income is taxable and exempt from VAT
- Mongolia launched blockchain-based OTC securities trading in 2025