Mongolia vs Taiwan
Crypto regulation comparison
Mongolia
Taiwan
Legal
Legal
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.
Taiwan regulates cryptocurrency under FSC guidance. In 2023, the FSC was designated as the primary regulator for virtual assets. VASPs must register and comply with AML regulations. Taiwan has a vibrant crypto community and several compliant exchanges. Crypto income is subject to income tax at progressive rates.
Tax Type
Income
Tax Type
Income
Tax Rate
10-25%
Tax Rate
5-40%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Financial Regulatory Commission (FRC) of Mongolia
Regulator
FSC (Financial Supervisory Commission)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Under FSC guidance; stablecoins treated as virtual assets
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
- FSC designated as primary crypto regulator in 2023
- VASPs must comply with AML/CFT rules and register with the FSC
- Self-regulatory guidelines issued for VASP industry (2023-2024)
- Crypto income taxed at progressive rates (5-40%)
- Major exchanges include MaiCoin/MAX, BitoEX/BitoPro