Rwanda vs Saint Vincent and the Grenadines
Crypto regulation comparison
Rwanda
Saint Vincent and the Grenadines
Restricted
Legal
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.
Saint Vincent and the Grenadines has been a popular jurisdiction for offshore crypto businesses. No income or capital gains tax.
Tax Type
None
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
National Bank of Rwanda (NBR), Capital Markets Authority (CMA)
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Authority
Stablecoin Rules
Draft law prohibits crypto as payment; mining and crypto ATMs banned
Stablecoin Rules
No specific stablecoin regulation
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
Key Points
- Popular jurisdiction for crypto business registration
- No income or capital gains tax
- Financial Services Authority provides oversight
- ECCB provides regional monetary oversight
- Several crypto exchanges have been registered here