El Salvador vs Yemen
Crypto regulation comparison
El Salvador
Yemen
Legal
Restricted
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199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles.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.
Yemen has a restrictive environment for cryptocurrency due to ongoing conflict and fragmented governance. The Central Bank has warned against crypto use. International sanctions further restrict access.
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 Yemen
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 warned against cryptocurrency use
- Ongoing conflict limits regulatory development
- International sanctions restrict access to crypto platforms
- No specific cryptocurrency legislation
- Very limited crypto infrastructure
