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Venezuela vs Zimbabwe

Crypto regulation comparison

← Back to map | Venezuela | Zimbabwe
Venezuela

Venezuela

Zimbabwe

Zimbabwe

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.

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 Income
Tax Type None
Tax Rate Up to 34%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator SUNACRIP (Superintendencia Nacional de Criptoactivos)
Regulator RBZ (Reserve Bank of Zimbabwe)
Stablecoin Rules Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
Stablecoin Rules No private stablecoin regulation; RBZ introduced gold-backed ZiG digital token as state currency
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
  • 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