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Oman vs Venezuela

Crypto regulation comparison

← Back to map | Oman | Venezuela
Oman

Oman

Venezuela

Venezuela

Legal
Legal

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.

Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.

Tax Type None
Tax Type Income
Tax Rate 0%
Tax Rate Up to 34%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Regulator SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules Under development within CMSA virtual asset framework
Stablecoin Rules Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
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
  • SUNACRIP regulates crypto exchanges, mining, and service providers
  • Government-backed Petro cryptocurrency launched in 2018, largely discontinued
  • Crypto mining requires SUNACRIP license and registration
  • Very high crypto adoption driven by hyperinflation; USDT widely used
  • Income from crypto subject to progressive tax rates up to 34%
Sources
Sources