North Macedonia vs El Salvador
Crypto regulation comparison
North Macedonia
El Salvador
Legal
Legal
North Macedonia has no dedicated cryptocurrency legislation. Crypto is not prohibited and operates in a regulatory gray area. The general flat 10% income tax rate may apply to crypto profits. The government is working toward EU MiCA alignment and plans to license crypto exchanges by 2025-2026.
El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.
Tax Type
Income
Tax Type
No tax
Tax Rate
10%
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of the Republic of North Macedonia
Regulator
BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
USD is the primary currency; Bitcoin-specific legislation in place
Key Points
- No dedicated cryptocurrency legislation
- Central bank has acknowledged crypto without banning it
- General flat 10% personal income tax rate may apply to crypto profits
- Government working toward licensing crypto exchanges by 2025-2026
- Working toward EU candidacy and alignment with MiCA regulation
Key Points
- First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
- Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
- January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
- No capital gains tax on Bitcoin transactions for individuals
- Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds