Madagascar vs Norway
Crypto regulation comparison
Madagascar
Norway
No Regulation
Legal
Madagascar has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto. Crypto operates in a legal gray area.
Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.
Tax Type
None
Tax Type
Wealth and capital gains
Tax Rate
N/A
Tax Rate
22% (gains) + 1.1% (wealth)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Banque Centrale de Madagascar
Regulator
Finanstilsynet (Financial Supervisory Authority)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
Key Points
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Crypto not recognized as legal tender
- Limited crypto adoption and infrastructure
- No licensing framework for crypto businesses
Key Points
- Crypto capital gains taxed at 22% flat rate
- Crypto included in wealth tax base (~1.1% on net wealth above threshold)
- VASPs must register with Finanstilsynet and comply with AML/CFT requirements
- Norway is a major crypto mining hub due to cheap hydroelectric power
- EEA member; MiCA implementation expected through EEA Agreement adaptation