Oman vs Rwanda
Crypto regulation comparison
Oman
Rwanda
Legal
Restricted
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.
Rwanda is developing a comprehensive crypto regulatory framework. The NBR and Capital Markets Authority are drafting a law requiring VASPs to obtain CMA licenses. The draft law prohibits crypto as legal tender, bans mining and crypto ATMs, and imposes fines up to 30M RWF and imprisonment for unlicensed operators.
Tax Type
None
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Regulator
National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
Stablecoin Rules
Under development within CMSA virtual asset framework
Stablecoin Rules
Draft law prohibits crypto as payment; mining and crypto ATMs banned
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
Key Points
- Draft law requires VASPs to obtain licenses from Capital Markets Authority
- Crypto prohibited as legal tender or payment method under draft law
- Crypto mining, crypto ATMs, and mixer/tumbler services banned
- Penalties include fines up to 30M RWF and up to 5 years imprisonment
- Framework driven by FATF compliance on AML requirements