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El Salvador vs Zimbabwe

Crypto regulation comparison

← Back to map | El Salvador | Zimbabwe
El Salvador

El Salvador

Zimbabwe

Zimbabwe

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199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles.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.

Zimbabwe has restricted cryptocurrency through its central bank. The RBZ banned financial institutions from processing crypto transactions in 2018. However, in a unique move, the RBZ issued gold-backed digital tokens (ZiG tokens) in 2023 as a store of value. Zimbabwe has a history of currency instability (hyperinflation, currency collapses) which drives informal crypto adoption for hedging and remittances.

Tax Type No tax
Tax Type None
Tax Rate 0%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Regulator RBZ (Reserve Bank of Zimbabwe)
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
Stablecoin Rules No private stablecoin regulation; RBZ introduced gold-backed ZiG digital token as state currency
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
  • RBZ banned banks and financial institutions from servicing crypto in 2018
  • RBZ issued gold-backed digital tokens (ZiG) in 2023 as a CBDC-like instrument
  • No licensing framework for crypto exchanges
  • Informal crypto adoption driven by currency instability and remittance needs
  • Crypto ownership itself is not explicitly criminalized for individuals
Sources
Sources