New Zealand vs San Marino
Crypto regulation comparison
New Zealand
San Marino
Legal
Legal
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.
San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.
Tax Type
Income
Tax Type
Unclear
Tax Rate
10.5-39%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
FMA (Financial Markets Authority), IRD (Inland Revenue)
Regulator
Central Bank of San Marino, AIF (Financial Information Agency)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
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
- Delegated Decree on blockchain technology entities issued
- Licenses issued for blockchain-based businesses
- AIF provides regulatory oversight
- Small jurisdiction working to attract blockchain companies
- Developing comprehensive digital asset regulation