Crypto Laws & Regulations

Crypto ownership and trading are permitted. Exchanges and other virtual-asset service providers face AUSTRAC AML/CTF registration, while ASIC rules apply when a product or service is a financial product.

Brazil permits crypto activity under Law 14,478/2022. The Central Bank regulates VASPs, while CVM retains authority over tokens that qualify as securities.

Crypto is permitted but not legal tender. Virtual-currency businesses face FINTRAC AML registration and trading platforms may also be subject to provincial securities regulation.

Bitcoin use remains lawful, but the 2025 reform made private-sector acceptance voluntary and removed its mandatory role in tax payments. The U.S. dollar remains the principal legal currency.

MiCA creates an EU-wide regime for crypto-asset issuers, stablecoins and crypto-asset service providers. Tax rates remain primarily a matter for individual member states.

Centralised virtual-asset trading platforms serving Hong Kong require SFC licensing. Fiat-referenced stablecoin issuance requires an HKMA licence under the Stablecoins Ordinance.

India has no comprehensive crypto market law, but VDA transfers are taxed and VDA service providers are reporting entities under PMLA with FIU-IND registration and AML duties.

Japan regulates crypto-asset exchange and custody services under the Payment Services Act. Stablecoin and securities-token activities have separate statutory requirements.

Nigeria recognises digital and virtual assets within its securities framework. VASPs and digital-asset platforms are regulated by the SEC, while banks may serve compliant VASPs under CBN guidelines.

MAS regulates digital payment token services under the Payment Services Act and certain overseas digital-token services under the Financial Services and Markets Act.

South Korea requires VASP registration and AML compliance, while the Virtual Asset User Protection Act regulates custody, user deposits, unfair trading and market supervision.

Switzerland applies technology-neutral financial, securities and AML laws to crypto. The DLT Act supports tokenised rights and licensed DLT trading facilities.

The UAE has a comprehensive but multi-regulator framework. VARA regulates Dubai outside DIFC; ADGM and DIFC have separate regimes, and federal rules apply elsewhere.

The UK currently applies FCA AML registration and financial-promotion rules. A broader FSMA cryptoasset authorisation regime is legislated to commence on 25 October 2027.

The US uses a multi-agency and state-based framework. Federal securities, commodities, AML, tax and stablecoin rules apply according to the asset and activity.

Crypto ownership and trading are lawful. Virtual Asset Service Providers must register with and comply with the CNV framework, while securities, AML and tax rules apply according to the activity.

Bahrain has a dedicated Central Bank licensing regime for crypto-asset services and separate rules for qualifying digital-token offerings and stablecoin issuance.

Mainland China prohibits virtual-currency exchange, token fundraising and related financial services. Crypto is not legal tender, and authorities also restrict commercial mining.

France applies EU MiCA authorisation to crypto-asset service providers. The former national DASP transition ended on 1 July 2026, so providers need MiCA authorisation or a valid EU passport.

Germany applies MiCA licensing through BaFin, alongside securities, banking and AML rules. Crypto tax treatment depends on holding period, activity and whether assets are private or business property.

Indonesia regulates crypto as a digital financial asset under OJK supervision. Licensed trading is permitted, but crypto is not legal tender and may not replace rupiah for domestic payments.

Crypto is lawful to own and trade and is treated as an asset for tax purposes. Financial-service, securities and AML rules apply, but Israel does not yet have one consolidated crypto regime comparable to MiCA.

Italy applies MiCA through Consob and the Bank of Italy. CASPs need MiCA authorisation or passporting, and individual crypto disposal gains are subject to Italy's dedicated tax and reporting rules.

Kazakhstan permits regulated digital-asset trading through authorised AIFC facilities and regulates digital mining nationally. Access outside the authorised framework is restricted.

Malaysia regulates digital-asset exchanges, custodians and token fundraising through the Securities Commission. Only approved operators and permitted assets should serve the local market.

Mexico permits private crypto ownership and trading, but crypto is not legal tender. Fintech institutions may use only virtual assets authorised by Banco de México, and non-financial exchange activity is an AML-regulated vulnerable activity.

The Netherlands applies MiCA authorisation through the AFM, with DNB prudential and AML involvement. Crypto holdings and business activity are separately covered by Dutch tax rules.

New Zealand permits crypto ownership and trading but regulates through existing financial-market and AML laws rather than a single crypto licence. Inland Revenue treats cryptoassets as property for tax.

The Philippines regulates virtual-asset services through the BSP and crypto-asset offerings/services through the SEC's 2025 CASP rules. Crypto is not legal tender.

Portugal applies MiCA, with Banco de Portugal handling CASP authorisation and relevant prudential/AML responsibilities. National tax law distinguishes shorter- and longer-held crypto assets.

Russia permits ownership and regulated mining but prohibits using private cryptocurrency for domestic payments. A new regulated circulation and trading regime takes effect on 1 September 2026.

Saudi Arabia has no general licensed public crypto-exchange framework. Authorities have warned that virtual currencies are outside the regulatory umbrella, while holding is not expressed as a blanket criminal prohibition.

South Africa treats crypto assets as financial products for FAIS purposes. Providers giving financial services in relation to crypto need FSCA authorisation, while FIC and tax rules apply.

Thailand licenses digital-asset exchanges, brokers, dealers and other covered businesses under the 2018 Emergency Decree. Crypto is not legal tender and authorised operators face strict product and conduct rules.

Türkiye brought crypto-asset service providers under the Capital Markets Board in 2024 and issued detailed establishment and operating rules in 2025. Crypto payments remain prohibited.

Austria applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Belgium applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Bulgaria applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Croatia applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Cyprus applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Czechia applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Denmark applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Estonia applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Finland applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Greece applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Hungary applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Ireland applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Latvia applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Lithuania applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Luxembourg applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Malta applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Norway applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Poland applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Romania applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Slovakia applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Slovenia applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Spain applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Sweden applies the EU MiCA framework. Crypto-asset services require authorisation or valid EU/EEA passporting and remain subject to AML, conduct and consumer-protection rules.

Chile regulates covered fintech and crypto-asset services under Law 21.521, with CMF registration and authorisation required for covered providers.

Egypt prohibits issuing, trading, promoting or operating platforms for cryptocurrencies without Central Bank approval; the CBE continues to warn that crypto is not legal tender.

Kenya has an active VASP licensing framework under the Virtual Asset Service Providers Act 2025 and implementing regulations issued in 2026.

Morocco’s official position remains restrictive while a broader crypto-assets framework is being developed. Virtual currencies are not legal tender and payment use remains prohibited.

Pakistan regulates virtual-asset services through PVARA under the Virtual Assets Act 2026 and notified VASP Regulations 2026.

Taiwan requires VASPs to complete AML registration and applies securities rules to qualifying tokens. A broader dedicated regime is still developing.

Vietnam is running a five-year licensed crypto-asset market pilot under Resolution 05/2025/NQ-CP. Market operators require Ministry of Finance licensing and settlement is in Vietnamese dong.

Algeria criminalises issuance, purchase, sale, possession, use, promotion, platforms, wallets and mining of virtual assets.

Crypto is not legal tender; regulated financial institutions may not treat it as authorised money or an approved payment product.

Bangladesh Bank prohibits transactions, facilitation and trading involving virtual assets under the foreign-exchange framework.

Belarus permits regulated token activity through authorised Hi-Tech Park participants and introduced a supervised crypto-bank model in 2026.

Bolivia lifted the former financial-system prohibition and permits virtual-asset transactions through authorised electronic payment channels, without making crypto legal tender.

Botswana licenses VASPs and initial-token-offering issuers and applies governance, custody, disclosure and AML/CFT requirements.

The NBC framework permits approved banks, payment institutions and licensed cryptoasset service providers to conduct specified services, with restrictions on unbacked assets.

CEMAC rules recognise a supervisory perimeter for virtual-asset services, while BEAC restrictions limit banking and payment-system involvement with private cryptoassets.

Colombia does not yet have a comprehensive VASP licence. Crypto is not legal tender; securities, AML, tax and financial-sector restrictions apply according to activity.

Crypto is not legal tender but private use is permitted; the new framework brings covered VASPs under registration and AML/CFT oversight.

Crypto is not legal tender or authorised payment money. Individuals act at their own risk and regulated financial institutions face material restrictions.

Online purchase and sale is not generally banned, but crypto is neither legal tender nor an authorised means of payment in Ecuador.

Unauthorised birr-paired P2P crypto trading is prohibited; crypto is not legal tender and no general domestic exchange licence is available.

Georgia requires VASP registration, AML/CFT compliance and consumer disclosures; stablecoin offerings are subject to additional NBG requirements.

Ghana has a statutory VASP registration, licensing and supervision framework supported by AML/CFT, disclosure and operational requirements.

Private ownership and trading are not generally prohibited, but crypto is not legal tender and there is no comprehensive dedicated VASP licensing regime.

Iceland applies the EEA crypto regulatory perimeter with authorisation, conduct, safeguarding and AML/CFT requirements; crypto is not legal tender.

The Central Bank prohibits regulated institutions and payment channels from dealing in cryptocurrencies; no authorised retail exchange regime exists.

Private crypto use is not expressly prohibited, but crypto is not legal tender and is not regulated or supervised by the Bank of Jamaica.

Jordan licenses virtual-asset activities through the JSC; payment use requires Central Bank authorisation and implementing instructions govern provider licensing.

Kuwait prohibits payments, investment, mining, licensing and commercial promotion involving virtual assets, subject to limited statutory exclusions.

Crypto is not legal tender and regulated financial institutions face restrictions; private activity lacks a comprehensive licensing and consumer-protection framework.

Mauritius licenses brokers, wallet providers, custodians, advisers and marketplaces and registers qualifying token offerings under the VAITOS Act.

Namibia establishes VASP registration and supervision, AML/CFT duties and enforcement powers; crypto remains outside legal-tender status.

Nepal treats cryptocurrency trading, exchange, mining-related business and promotion as illegal under central-bank and foreign-exchange rules.

VASPs operating in Oman must register and implement AML/CFT controls; the wider virtual-assets framework continues to develop under the FSA.

Private crypto ownership and trading are not generally prohibited, but there is no comprehensive VASP licence; banking, securities, AML and tax laws apply by activity.

Crypto is not legal tender. Mining and VASP legislation is developing, while electricity, AML, securities and tax rules already apply.

Peru subjects VASPs to AML/CFT supervision and reporting, but a complete prudential and conduct licensing framework remains under development.

QFC law supports tokenisation and smart contracts, but cryptocurrencies, stablecoins and currency-substitute tokens remain excluded and restricted.

Crypto is not legal tender and no full public VASP licensing regime is yet established; payment, AML and consumer-risk rules apply.

Serbia licenses virtual-currency services through the NBS and digital-token services through the Securities Commission, with AML/CFT and white-paper rules.

Crypto is not legal tender and the central bank has not licensed exchanges, ICOs, mining or custody businesses; card and foreign-exchange restrictions may apply.

Cryptocurrencies are not legal tender and are not licensed or authorised by the Bank of Tanzania; fintech testing does not itself authorise crypto operations.

Crypto is not legal tender and there is no public VASP licensing framework; foreign-exchange, banking and payment rules materially restrict activity.

Private crypto use is not generally legal tender or central-bank regulated; VASPs face AML registration and reporting expectations while broader licensing develops.

Ukraine legally recognises virtual assets, but full market launch, supervision and tax implementation remain transitional and subject to further legislation.

Uruguay brings covered virtual-asset service providers within the BCU regulatory and supervisory perimeter, with AML/CFT and financial-services requirements.

Resident legal entities require NAPP licences for crypto exchanges, crypto stores, depositories and mining pools; authorised-provider lists are public.

Venezuela has recognised and licensed crypto activity, but supervisory reorganisation and policy changes create material uncertainty for operators and users.

Anguilla enacted one of the first utility token offering frameworks in 2018.

The Bahamas has established a modern digital-asset regulatory framework under the Digital Assets and Registered Exchanges Act 2024.

Bermuda is a pioneering crypto-friendly jurisdiction with the Digital Asset Business Act 2018 administered by the Bermuda Monetary Authority.

Kyrgyzstan regulates virtual assets and VASPs under the 2022 Law on Virtual Assets, with licensing and AML/CFT requirements.

Liechtenstein regulates token and trustworthy technology service providers under the TVTG, with licensing, conduct and AML/CFT duties.

Mongolia regulates virtual-asset service providers through FRC registration, with AML/CFT, custody and governance requirements.

Seychelles has enacted a comprehensive VASP licensing framework under the Virtual Asset Service Providers Act 2024.

Turkey brought crypto-asset service providers under SPK regulation in 2024 and issued implementing regulations in 2025.