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Somalia vs Taiwan

Crypto regulation comparison

← Back to map | Somalia | Taiwan
Somalia

Somalia

Taiwan

Taiwan

No Regulation
Legal

Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.

Taiwan regulates cryptocurrency under FSC guidance. In 2023, the FSC was designated as the primary regulator for virtual assets. VASPs must register and comply with AML regulations. Taiwan has a vibrant crypto community and several compliant exchanges. Crypto income is subject to income tax at progressive rates.

Tax Type None
Tax Type Income
Tax Rate N/A
Tax Rate 5-40%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Central Bank of Somalia
Regulator FSC (Financial Supervisory Commission)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Under FSC guidance; stablecoins treated as virtual assets
Key Points
  • No specific cryptocurrency legislation
  • Fragmented governance limits regulatory development
  • Mobile money dominates informal financial system
  • Very limited formal financial infrastructure
  • No licensing framework for crypto services
Key Points
  • FSC designated as primary crypto regulator in 2023
  • VASPs must comply with AML/CFT rules and register with the FSC
  • Self-regulatory guidelines issued for VASP industry (2023-2024)
  • Crypto income taxed at progressive rates (5-40%)
  • Major exchanges include MaiCoin/MAX, BitoEX/BitoPro
Sources
Sources