Madagascar vs Romania
Crypto regulation comparison
Madagascar
Romania
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 Romania. Crypto gains are taxed at 10% as 'income from other sources' under the fiscal code. VASPs must register with the relevant authorities for AML compliance. Romania has a growing crypto community and is transitioning to the EU MiCA framework.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
10%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Banque Centrale de Madagascar
Regulator
ASF (Autoritatea de Supraveghere Financiară), BNR (National Bank of Romania)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
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 gains taxed at 10% as 'income from other sources' under Article 114 Fiscal Code
- Annual gains up to RON 600 (~EUR 120) exempt from tax per Article 116 Fiscal Code
- VASPs must register for AML/CFT compliance
- ASF oversees financial market conduct; BNR handles monetary policy
- MiCA framework applicable from December 2024