El Salvador vs Syria
Crypto regulation comparison
El Salvador
Syria
Legal
Banned
El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.
Syria has a restrictive stance on cryptocurrency compounded by international sanctions. The Central Bank has not authorized crypto activities. International sanctions make access to crypto platforms extremely difficult.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Regulator
Central Bank of Syria
Stablecoin Rules
USD is the primary currency; Bitcoin-specific legislation in place
Stablecoin Rules
No stablecoin regulation
Key Points
- First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
- Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
- January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
- No capital gains tax on Bitcoin transactions for individuals
- Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Key Points
- Central Bank has not authorized cryptocurrency activities
- International sanctions severely restrict crypto access
- No specific cryptocurrency legislation
- Limited internet infrastructure hampers crypto use
- Informal crypto usage exists despite restrictions