Maldives vs Qatar
Crypto regulation comparison
Maldives
Qatar
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.
Qatar has a restrictive stance on cryptocurrency. The Qatar Central Bank banned crypto trading and services in 2018, and the QFC Regulatory Authority (QFCRA) prohibits virtual asset services within the Qatar Financial Centre. However, Qatar has shown interest in blockchain technology for non-crypto applications and is exploring a potential CBDC. The Qatar Financial Centre issued a Digital Assets Framework in 2024 focused on tokenized real-world assets, not cryptocurrencies.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
No
Mining
No
Mining
No
Regulator
Maldives Monetary Authority (MMA)
Regulator
QCB (Qatar Central Bank), QFCRA
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Not permitted under current QCB regulations
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
- QFCRA prohibited authorized firms from providing virtual asset services (2019 alert, reaffirmed 2024)
- QFCRA prohibits virtual asset services within the Qatar Financial Centre
- QFC introduced a 2024 Digital Assets Framework for tokenized securities (not crypto)
- No personal income or capital gains tax in Qatar (but crypto trading is banned)
- Qatar exploring blockchain and CBDC applications separate from crypto