BTC $64,914.00 (-4.59%)
ETH $1,862.27 (-5.66%)
XRP $1.34 (-6.06%)
BNB $589.52 (-5.17%)
SOL $77.57 (-8.91%)
TRX $0.29 (-0.57%)
DOGE $0.09 (-4.84%)
BCH $539.86 (-5.05%)
ADA $0.26 (-6.10%)
LEO $8.06 (-1.02%)
HYPE $27.17 (-8.39%)
CC $0.16 (+0.92%)
LINK $8.23 (-7.07%)
XMR $311.12 (-4.01%)
XLM $0.15 (-3.14%)
RAIN $0.01 (-1.95%)
HBAR $0.09 (-3.97%)
ZEC $238.82 (-6.38%)
LTC $51.26 (-6.04%)
AVAX $8.39 (-7.32%)

Mongolia vs Somalia

Crypto regulation comparison

← Back to map | Mongolia | Somalia
Mongolia

Mongolia

Somalia

Somalia

Legal
No Regulation

Mongolia adopted the Law on Virtual Asset Service Providers (VPSP) in December 2021, establishing a comprehensive regulatory framework. The Financial Regulatory Commission (FRC) registers and supervises crypto exchanges. Over 12 licensed exchanges serve 850,000+ customers. Crypto mining is legal and growing, with tax incentives for renewable energy use.

Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.

Tax Type Income
Tax Type None
Tax Rate 10-25%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Financial Regulatory Commission (FRC) of Mongolia
Regulator Central Bank of Somalia
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No stablecoin regulation
Key Points
  • Law on Virtual Asset Service Providers (VPSP) adopted December 2021
  • FRC registers and supervises crypto exchanges under VPSP law
  • Over 12 licensed exchanges serving 850,000+ customers
  • Crypto exchange income is taxable and exempt from VAT
  • Mongolia launched blockchain-based OTC securities trading in 2025
Key Points
  • No specific cryptocurrency legislation
  • Fragmented governance limits regulatory development
  • Mobile money dominates informal financial system
  • Very limited formal financial infrastructure
  • No licensing framework for crypto services
Sources
Sources