Maldives vs Pakistan
Crypto regulation comparison
Maldives
Pakistan
Restricted
Restricted
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.
Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
Yes
Regulator
Maldives Monetary Authority (MMA)
Regulator
SBP (State Bank of Pakistan), SECP
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No regulation; SBP has not authorized any crypto activities
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
- SBP prohibits banks and financial institutions from processing crypto transactions
- No licensing framework for crypto exchanges; operating informally is risky
- High P2P crypto adoption despite regulatory hostility
- Government has considered formal banning legislation multiple times
- SECP has explored digital asset regulation but no framework enacted