Maldives vs Netherlands
Crypto regulation comparison
Maldives
Netherlands
Restricted
Legal
The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.
The Netherlands has one of Europe's strictest crypto regulatory regimes. DNB has overseen VASP registration since 2020 under the Dutch AML/CFT Act (Wwft), and many applications have been rejected. The Netherlands does not tax realized capital gains directly; instead, crypto holdings are taxed under the Box 3 wealth tax based on a deemed return on net assets. The AFM oversees market conduct. MiCA is now the governing framework.
Tax Type
None
Tax Type
Wealth
Tax Rate
N/A
Tax Rate
~1.2-1.6% (deemed return)
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Maldives Monetary Authority (MMA)
Regulator
DNB (De Nederlandsche Bank), AFM (Autoriteit Financiële Markten)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework; DNB oversight
Key Points
- MMA has warned against cryptocurrency use
- Crypto not recognized as legal tender
- No specific cryptocurrency legislation
- Financial institutions discouraged from dealing in crypto
- Limited crypto adoption
Key Points
- DNB requires VASP registration under the Wwft (AML Act); rigorous approval process
- Only a limited number of VASPs have obtained DNB registration (many rejected or withdrawn)
- Crypto taxed under Box 3 wealth tax: deemed return on net assets taxed at ~31-36% (effective ~1.2-1.6%)
- AFM regulates crypto advertising and market conduct; banned crypto ads targeting retail in 2022
- MiCA framework applicable from December 2024, transitioning from national DNB regime