New Zealand vs Panama
Crypto regulation comparison
New Zealand
Panama
Cryptocurrency is legal in New Zealand and treated as a form of property for tax purposes. The IRD taxes crypto depending on the purpose of acquisition — if bought with the intention to sell, gains are taxable income. New Zealand does not have a formal capital gains tax, but crypto profits are often taxable under income tax rules. Exchanges are not specifically licensed but must comply with AML/CFT requirements.
Panama passed Law 129 in 2024 regulating crypto assets, virtual asset service providers, and tokenized securities. Panama has no capital gains tax on foreign-sourced or investment income, making it attractive for crypto investors. The law provides a regulatory framework for exchanges and establishes AML/KYC obligations for VASPs.
Key Points
- Crypto treated as property; gains taxable if acquired with intent to dispose
- No formal capital gains tax, but income tax applies to crypto trading profits
- Tax rates from 10.5% to 39% depending on income bracket
- Crypto salary payments are treated as taxable income
- Exchanges must comply with AML/CFT Act and register as reporting entities with DIA
Key Points
- Law 129 (2024) regulates crypto assets and VASPs in Panama
- No capital gains tax on investment or foreign-sourced income (territorial tax system)
- VASPs must comply with AML/KYC requirements under the new framework
- Crypto payments for commercial transactions are permitted
- Panama's territorial tax system means crypto gains from international trading are untaxed