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Norway vs El Salvador

Crypto regulation comparison

← Back to map | Norway | El Salvador
Norway

Norway

El Salvador

El Salvador

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.

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199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles.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 Wealth and capital gains
Tax Type No tax
Tax Rate 22% (gains) + 1.1% (wealth)
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Finanstilsynet (Financial Supervisory Authority)
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules No specific stablecoin regulation; general financial rules apply
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • 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