Venezuela vs Yemen
Crypto regulation comparison
Venezuela
Yemen
Legal
Restricted
Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.
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
Income
Tax Type
None
Tax Rate
Up to 34%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
SUNACRIP (Superintendencia Nacional de Criptoactivos)
Regulator
Central Bank of Yemen
Stablecoin Rules
Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
Stablecoin Rules
No stablecoin regulation
Key Points
- SUNACRIP regulates crypto exchanges, mining, and service providers
- Government-backed Petro cryptocurrency launched in 2018, largely discontinued
- Crypto mining requires SUNACRIP license and registration
- Very high crypto adoption driven by hyperinflation; USDT widely used
- Income from crypto subject to progressive tax rates up to 34%
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