Mongolia vs Syria
Crypto regulation comparison
Mongolia
Syria
Legal
Banned
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.
Syria has a restrictive stance on cryptocurrency compounded by international sanctions. The Central Bank has not authorized crypto activities. International sanctions make access to crypto platforms extremely difficult.
Tax Type
Income
Tax Type
None
Tax Rate
10-25%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Financial Regulatory Commission (FRC) of Mongolia
Regulator
Central Bank of Syria
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
- Central Bank has not authorized cryptocurrency activities
- International sanctions severely restrict crypto access
- No specific cryptocurrency legislation
- Limited internet infrastructure hampers crypto use
- Informal crypto usage exists despite restrictions