Saudi Arabia vs Saint Vincent and the Grenadines
Crypto regulation comparison
Saudi Arabia
Saint Vincent and the Grenadines
Restricted
Legal
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
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
0%
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Authority
Stablecoin Rules
No regulation; crypto trading not authorized
Stablecoin Rules
No specific stablecoin regulation
Key Points
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
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