Norway vs Syria
Crypto regulation comparison
Norway
Syria
Legal
Banned
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.
Syria has a restrictive stance on cryptocurrency compounded by international sanctions. The Central Bank has not authorized crypto activities. International sanctions make access to crypto platforms extremely difficult.
Tax Type
Wealth and capital gains
Tax Type
None
Tax Rate
22% (gains) + 1.1% (wealth)
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Finanstilsynet (Financial Supervisory Authority)
Regulator
Central Bank of Syria
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
Stablecoin Rules
No stablecoin regulation
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
- Central Bank has not authorized cryptocurrency activities
- International sanctions severely restrict crypto access
- No specific cryptocurrency legislation
- Limited internet infrastructure hampers crypto use
- Informal crypto usage exists despite restrictions