Tanzania vs Saint Vincent and the Grenadines
Crypto regulation comparison
Tanzania
Saint Vincent and the Grenadines
Partially Regulated
Legal
Tanzania's regulatory stance on crypto is evolving. The Bank of Tanzania warned against crypto in 2019, but the 2024 Finance Act introduced a 3% withholding tax on digital asset transactions — Tanzania's first legal recognition of crypto. A December 2024 High Court ruling held that taxed crypto transactions cannot be deemed unlawful. No comprehensive regulatory framework exists yet.
Saint Vincent and the Grenadines has been a popular jurisdiction for offshore crypto businesses. No income or capital gains tax.
Tax Type
Income
Tax Type
No tax
Tax Rate
3% withholding tax
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Bank of Tanzania
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Authority
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Bank of Tanzania warned against crypto trading in 2019 public notice
- Finance Act 2024 introduced 3% withholding tax on digital asset transactions
- December 2024 High Court ruled taxed crypto transactions are not unlawful
- An estimated 2.3 million Tanzanians own cryptocurrency
- Bank of Tanzania exploring central bank digital currency (CBDC)
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