Palau vs Uganda
Crypto regulation comparison
Palau
Uganda
Legal
Restricted
Palau has explored blockchain technology and launched a stablecoin program in partnership with Ripple. No income or capital gains tax.
Uganda restricts cryptocurrency. The Bank of Uganda issued a 2022 circular (NPSD 306) barring licensed payment service providers from facilitating crypto transactions. A 2023 High Court ruling upheld the circular, declaring cryptocurrencies illegal under the National Payment Systems Act 2020. No crypto exchanges are licensed to operate. Informal P2P crypto activity exists despite restrictions.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
Financial Institutions Commission
Regulator
BOU (Bank of Uganda), CMA Uganda
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No regulation
Key Points
- Exploring national stablecoin in partnership with Ripple
- No income or capital gains tax
- Uses the US dollar as official currency
- Small but forward-looking approach to digital assets
- Limited domestic crypto infrastructure
Key Points
- BOU Circular NPSD 306 (April 2022) bars licensed entities from facilitating crypto
- 2023 High Court ruled cryptocurrencies illegal under National Payment Systems Act 2020
- Growing crypto adoption, particularly for cross-border transactions
- No specific crypto taxation rules
- Financial Intelligence Authority requires VASPs to comply with AML laws