Norway vs Oman
Crypto regulation comparison
Norway
Oman
Legal
Legal
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.
Oman has moved to regulate cryptocurrency with the Capital Market Authority issuing a Virtual Assets Regulatory Framework in 2023. VASP licensing is being implemented, and Oman has attracted crypto mining operations due to its energy resources. There is no personal income or capital gains tax in Oman.
Tax Type
Wealth and capital gains
Tax Type
None
Tax Rate
22% (gains) + 1.1% (wealth)
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finanstilsynet (Financial Supervisory Authority)
Regulator
CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
Stablecoin Rules
Under development within CMSA virtual asset framework
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
Key Points
- CMA issued the Virtual Assets Regulatory Framework in 2023
- VASP licensing regime being implemented under CMA oversight
- No personal income or capital gains tax in Oman
- Oman has attracted large-scale crypto mining operations leveraging its energy sector
- CBO has issued warnings but not banned crypto for individuals