Marshall Islands vs Pakistan
Crypto regulation comparison
Marshall Islands
Pakistan
Legal
Restricted
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.
Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Banking Commission of the Marshall Islands
Regulator
SBP (State Bank of Pakistan), SECP
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No regulation; SBP has not authorized any crypto activities
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
- SBP prohibits banks and financial institutions from processing crypto transactions
- No licensing framework for crypto exchanges; operating informally is risky
- High P2P crypto adoption despite regulatory hostility
- Government has considered formal banning legislation multiple times
- SECP has explored digital asset regulation but no framework enacted