Marshall Islands vs Nepal
Crypto regulation comparison
Marshall Islands
Nepal
Legal
Banned
The Marshall Islands passed the Sovereign Currency Act in 2018 to create the SOV, a blockchain-based national digital currency. No income or capital gains tax.
Nepal has banned cryptocurrency trading, mining, and transactions. The Nepal Rastra Bank declared crypto trading illegal in 2017, and the Nepal Telecommunications Authority has been directed to block crypto exchange websites. Law enforcement has arrested individuals for operating crypto exchanges. Despite the ban, some citizens use VPNs to access crypto.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Banking Commission of the Marshall Islands
Regulator
NRB (Nepal Rastra Bank)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
All crypto activities banned
Key Points
- Sovereign Currency Act (2018) created SOV digital currency
- No income or capital gains tax
- Has been a popular jurisdiction for DAO registration
- Banking Commission provides oversight
- Limited domestic crypto adoption
Key Points
- NRB declared all crypto trading and transactions illegal in 2017
- Mining cryptocurrency is also prohibited
- NTA directed to block access to crypto exchange websites
- Arrests have been made for operating crypto trading platforms
- NRB exploring a central bank digital currency (CBDC) as an alternative