Marshall Islands vs Uganda
Crypto regulation comparison
Marshall Islands
Uganda
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.
Uganda restricts cryptocurrency. The Bank of Uganda issued a 2022 circular (NPSD 306) barring licensed payment service providers from facilitating crypto transactions. A 2023 High Court ruling upheld the circular, declaring cryptocurrencies illegal under the National Payment Systems Act 2020. No crypto exchanges are licensed to operate. Informal P2P crypto activity exists despite restrictions.
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
BOU (Bank of Uganda), CMA Uganda
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No regulation
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
- BOU Circular NPSD 306 (April 2022) bars licensed entities from facilitating crypto
- 2023 High Court ruled cryptocurrencies illegal under National Payment Systems Act 2020
- Growing crypto adoption, particularly for cross-border transactions
- No specific crypto taxation rules
- Financial Intelligence Authority requires VASPs to comply with AML laws