Marshall Islands vs Russia
Crypto regulation comparison
Marshall Islands
Russia
Legal
Partially Regulated
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.
Russia's crypto regulation is complex and evolving. The 2021 'On Digital Financial Assets' law recognizes crypto as property but bans its use as a means of payment. Mining was legalized and regulated in 2024 under a new mining law. Crypto is taxed as income at 13-15%. The CBR pushed for a total ban on crypto trading but was overruled by the government, which favors regulation. International sanctions have complicated Russia's crypto landscape.
Tax Type
No tax
Tax Type
Income
Tax Rate
0%
Tax Rate
13-15%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Banking Commission of the Marshall Islands
Regulator
CBR (Central Bank of Russia), Ministry of Finance
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Crypto payments banned; digital ruble CBDC introduced
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
- Digital Financial Assets law (2021) recognizes crypto as property but bans use as payment
- Crypto mining officially legalized and regulated under 2024 mining legislation
- Crypto income taxed at 13% (up to RUB 5M) or 15% (above RUB 5M)
- Domestic crypto exchanges not legally operating; P2P trading widespread. CBR framework Dec 2025 targeting July 2026.
- International sanctions have increased interest in crypto for cross-border transfers