Paraguay vs Serbia
Crypto regulation comparison
Paraguay
Serbia
Paraguay has no specific comprehensive crypto law. President Abdo vetoed a crypto regulation bill in 2022. The BCP does not recognize crypto as legal tender. VASPs must register with SEPRELAD for AML compliance since 2020. Paraguay is a significant crypto mining hub due to cheap hydroelectric power from the Itaipu Dam, though bills to restrict mining due to energy theft have been debated.
Serbia's Law on Digital Assets, enacted in December 2020 and effective June 2021, created one of the first comprehensive crypto regulatory frameworks in the Western Balkans. The NBS oversees virtual currencies while the Securities Commission handles digital tokens. Service providers must obtain licenses and comply with AML/KYC requirements. Capital gains taxed at 15%.
Key Points
- No comprehensive crypto law enacted; 2022 bill was vetoed by President Abdo
- Major crypto mining hub thanks to cheap hydroelectric power (Itaipu Dam)
- VASPs must register with SEPRELAD (anti-money laundering secretariat)
- Income from crypto activities subject to 8-10% tax rates
- ANDE (national electricity authority) regulates power consumption for mining operations
Key Points
- Law on Digital Assets enacted December 2020, effective June 2021
- NBS regulates virtual currencies; Securities Commission regulates digital tokens
- Capital gains on crypto taxed at 15%
- Service providers must obtain licenses and maintain physical offices in Serbia
- Transfer/conversion of digital assets exempt from VAT