Maldives vs Norway
Crypto regulation comparison
Maldives
Norway
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.
Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.
Tax Type
None
Tax Type
Wealth and capital gains
Tax Rate
N/A
Tax Rate
22% (gains) + 1.1% (wealth)
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Maldives Monetary Authority (MMA)
Regulator
Finanstilsynet (Financial Supervisory Authority)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
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
- Crypto capital gains taxed at 22% flat rate
- Crypto included in wealth tax base (~1.1% on net wealth above threshold)
- VASPs must register with Finanstilsynet and comply with AML/CFT requirements
- Norway is a major crypto mining hub due to cheap hydroelectric power
- EEA member; MiCA implementation expected through EEA Agreement adaptation