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Malaysia vs El Salvador

Crypto regulation comparison

← Back to map | Malaysia | El Salvador
Malaysia

Malaysia

El Salvador

El Salvador

Legal
Legal

Cryptocurrency is legal and regulated in Malaysia. The Securities Commission oversees digital asset exchanges (DAX) and initial exchange offerings under the Capital Markets and Services (Prescription of Securities) Order 2019. Only SC-approved exchanges can operate. Malaysia does not impose capital gains tax on crypto for individuals, though frequent trading may be classified as business income.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type None
Tax Type No tax
Tax Rate 0%
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator SC (Securities Commission Malaysia), BNM (Bank Negara Malaysia)
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules Digital assets on approved exchanges only; stablecoins not separately regulated
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
Key Points
  • Digital asset exchanges must be registered and approved by the Securities Commission
  • Only approved tokens can be listed on registered exchanges (e.g., BTC, ETH, XRP on approved list)
  • No capital gains tax for individuals; frequent trading may be treated as business income
  • BNM regulates crypto for AML/CFT purposes under the Anti-Money Laundering Act
  • IEOs must be conducted through SC-approved platforms
Key Points
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources