Portugal vs Yemen
Crypto regulation comparison
Portugal
Yemen
Legal
Restricted
Portugal was formerly a crypto tax haven with 0% capital gains tax on crypto for individuals, but the 2023 State Budget introduced a 28% capital gains tax on crypto held for less than one year. Crypto held for over 365 days remains tax-free for individuals. Banco de Portugal registers VASPs for AML compliance, and Portugal transitions to MiCA. Portugal attracted many crypto entrepreneurs due to its previously favorable tax regime and NHR (Non-Habitual Resident) program.
Yemen has a restrictive environment for cryptocurrency due to ongoing conflict and fragmented governance. The Central Bank has warned against crypto use. International sanctions further restrict access.
Tax Type
Capital gains
Tax Type
None
Tax Rate
28%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Banco de Portugal, CMVM (Securities Market Commission)
Regulator
Central Bank of Yemen
Stablecoin Rules
Regulated under EU MiCA framework
Stablecoin Rules
No stablecoin regulation
Key Points
- 28% capital gains tax on crypto sold within 365 days (introduced in 2023 budget)
- Crypto held for more than 365 days is exempt from capital gains tax for individuals
- Banco de Portugal oversees VASP registration for AML/CFT compliance
- CMVM regulates crypto where classified as securities
- Former 0% tax regime attracted crypto entrepreneurs; NHR tax regime phased out in 2024
Key Points
- Central Bank has warned against cryptocurrency use
- Ongoing conflict limits regulatory development
- International sanctions restrict access to crypto platforms
- No specific cryptocurrency legislation
- Very limited crypto infrastructure