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Argentina licenses virtual asset service providers under Law 27,739, with the CNV running the PSAV register and the UIF enforcing AML obligations.

Bermuda is a tax-neutral British Overseas Territory and a leading insurance and digital-asset centre, regulated by the BMA, with gambling overseen by the Bermuda Gaming Commission. Crypto runs under the Digital Asset Business Act 2018 (DABA), under which the BMA grants tiered licences — Class T (test), Class M (modified) and Class F (full), the last held by firms such as Circle, Coinbase and Kraken — covering exchanges, custody, issuance, brokerage, payments and lending; tokenised securities are included, and stablecoin issuance follows 2024 SCPS Guidance (full reserves, monthly attestation, redemption rights). Payments run under the Money Services Business Act 2016 (with a new Payment Services Act being consulted on from April 2025), and gambling under the Casino Gaming Act 2014 and Betting Act 2021 — but although up to three integrated-resort casinos are authorised, none has opened, and Bermuda does not license offshore online gambling.

Brazil licenses virtual asset service providers under Law 14,478/2022 and BCB Resolutions 519-521/2025, with the Banco Central do Brasil as supervisor.

The BVI is the world's leading offshore company-incorporation jurisdiction and a major crypto token-issuance hub, regulated by the BVI Financial Services Commission. Crypto is governed by the Virtual Assets Service Providers Act 2022 (in force 1 February 2023), requiring FSC registration for exchange, custody, transfer and financial services — but primary token or stablecoin issuance is unregulated, making the BVI the premier jurisdiction for ICOs, tokenised funds, RWA tokenisation and stablecoin vehicles; security tokens fall under SIBA. Payments run under the Financing and Money Services Act 2009 (fiat only — virtual-asset transfer is excluded), banking under the Banks and Trust Companies Act 1990, and gambling — historically banned — was legalised in principle by the Gaming and Betting Control Act 2020 (in force July 2021) under a new Commission, though the regime remains early-stage; the BVI uses the US dollar and levies no income, capital-gains or corporation tax (subject to economic substance).

Canada regulates crypto, payments and gambling through a federal–provincial split rather than bespoke statutes. Crypto trading platforms are treated as dealers in 'crypto contracts' under provincial securities law (CSA-coordinated; restricted dealer → full investment dealer + CIRO) plus FINTRAC MSB registration; stablecoins sit under the CSA's value-referenced-crypto-asset regime, while a federal Stablecoin Act (Bill C-15) would make the Bank of Canada the prudential supervisor of fiat-backed stablecoin issuers as payment instruments (expected 2026). Payments are supervised by the Bank of Canada under the Retail Payment Activities Act (in force 8 September 2025); gambling is a Criminal Code prohibition opened only by provincial conduct-and-manage — Ontario's open market (AGCO + iGO), Alberta's competitive launch on 13 July 2026, and Crown-corporation monopolies elsewhere.

The Cayman Islands is a tax-neutral British Overseas Territory and a leading hub for investment funds and virtual assets, regulated by CIMA. Crypto runs under the Virtual Asset (Service Providers) Act: Phase 1 registration (AML/CFT) since 31 October 2020, and Phase 2 licensing for custodians and trading platforms in force from 1 April 2025 (first full licences from late 2025); tokenised funds under the Mutual Funds Act or Private Funds Act are generally exempt, stablecoins are virtual assets, and there is no income, capital-gains or corporation tax. Payments run under the Money Services Act (CIMA-licensed money services businesses; no EU-style e-money regime), and gambling — uniquely among major offshore centres — is prohibited: no casino, betting, lottery or online-gaming licences are issued, offshore gaming entities cannot register, and only charitable raffles are allowed.

Chile regulates cryptoasset business under the Fintec Law (No. 21,521) and CMF NCG 502, with CMF authorisation and UAF supervising AML obligations.

Colombia has no general VASP licence. Providers report to the UIAF under Resolution 314/2021, and the SFC has not authorised supervised entities to custody crypto.

Costa Rica has no specific crypto statute or VASP licence — Bill No. 22.837 (passed first debate July 2025) would add SUGEF VASP registration but is unenacted; crypto is not legal tender (BCCR 2018) but not prohibited. Payments and e-money sit with the BCCR and SUGEF under CONASSIF, with banking requiring ~USD 31.91m capital. Gambling is famously light-touch: no specific licence, offshore-targeting operators use a generic municipal "data-processing" permit, hotel casinos sit under the Ministry of Public Security, and the JPS holds the state lottery and sports-betting monopoly.

Curaçao completed a comprehensive gambling reform in December 2024. The LOK replaced the old master-license system. The CGA (formerly GCB) issues direct B2C, B2B and Nonprofit licences. No domestic crypto licensing regime.

Latin America's most permissive crypto regime. CNAD licenses DASPs and BSPs under LEAD 2023 with 0% corporate tax on digital-asset activities. LNB issues unified gambling licences under the 2021 Organic Law.

Mexico has no general VASP licence. Banxico Circular 4/2019 limits banks and fintechs to internal crypto use, while non-financial providers fall under LFPIORPI AML rules.

Panama is a US-dollarised Latin American financial and services hub with a territorial tax system, and its three verticals sit at very different stages. Crypto is legal but unregulated — no dedicated law, the SBP and SMV confirm it is outside their remit (and not a security), and crypto is treated as movable property — though AML/CFT obligations apply under Law 23 of 2015 (UAF), and a framework has repeatedly stalled (Bill 697 struck down as unconstitutional in 2023, bills 247/326 pending; Panama joined the OECD CARF in December 2025, reporting from 2027). Payments rest on bank and money-remittance licensing (no EU-style e-money regime, no central bank — the US dollar is legal tender), and gambling is mature: the Junta de Control de Juegos has licensed land-based casinos since 1998 and online gaming since 2002, issuing seven-year online master licences that allow worldwide operation.

Puerto Rico is a US territory with no territory-specific crypto statute — federal law applies (SEC, CFTC, FinCEN; crypto is property per IRS Rev. Rul. 2019-24) and the Office of the Commissioner of Financial Institutions (OCIF) licenses money transmitters and crypto activity under Act 136-2010; the Act 60 tax incentive offers 0% Puerto-Rico-sourced capital gains for bona-fide residents (a new 4% rate applies to decrees applied for after 31 December 2026) under intense IRS sourcing scrutiny. Payments and money transmission are licensed by OCIF under Act 136-2010, with International Financial Entities under Act 273-2012. Gambling is legal and regulated by the Puerto Rico Gaming Commission under Act 81-2019 (casinos, sports betting, fantasy, esports, horse racing) and Act 221-1948 (casino slots); the lottery is government-run.

Saint Vincent and the Grenadines (SVG) is an Eastern Caribbean offshore centre. Crypto is governed by the Virtual Asset Business Act 2022 — administered by the FSA, which registers virtual-asset businesses (the FSA does not license or regulate forex/binary-options brokers). Banking is supervised regionally by the ECCB under the Banking Act 2015, with the FSA regulating non-bank, international banking, money-services and virtual-asset businesses; gambling is legal under the Gambling, Lotteries and Betting Act (Gaming Authority for casinos/betting; NLA state lottery monopoly), but no casinos currently operate and online gambling is unregulated.

The Bahamas is a tax-neutral Caribbean financial centre that rebuilt its crypto regime after the FTX collapse and runs the world's first central bank digital currency. Crypto is governed by the Digital Assets and Registered Exchanges Act 2024 (DARE Act), administered by the SCB — a comprehensive, IOSCO/FATF-aligned framework requiring registration for exchanges, custody, payments, staking, advice, derivatives, node services and stablecoin issuance, with strict client-asset segregation and bans on algorithmic stablecoins and privacy tokens. Payments and e-money run through the Central Bank, which licenses money transmission businesses and PSPs and issues the Sand Dollar (world's first CBDC); gambling under the Gaming Act 2014 is two-tiered — resort casinos serve tourists only (residents prohibited), licensed 'web shops' serve residents — and the Bahamas does not license offshore online gambling.

The United States licenses crypto, payments and gambling through an overlapping federal–state patchwork rather than single national authorisations. The GENIUS Act (signed July 2025) creates the first federal payment-stablecoin regime (OCC/Fed/FDIC/state; effective by January 2027), while the CLARITY Act market-structure bill remains pending; SEC and CFTC divide securities/commodity oversight and FinCEN applies the Bank Secrecy Act, with most crypto firms also needing state money-transmitter licences plus a NY BitLicense or California DFAL where applicable. Gambling is decided state-by-state after Murphy v. NCAA (2018) — about 38 states plus D.C. allow sports betting and 8 states permit online casino — within the federal Wire Act, UIGEA and IGRA perimeter.

Austria regulates crypto under MiCA via the MiCAR Enforcement Act (MiCA-VVG; BGBl. I 111/2024), with the FMA as the competent authority for CASPs and token issuers — the national VASP grandfathering window closed at the end of 2025, so a MiCA CASP authorisation is now mandatory. Payments and e-money run under the Payment Services Act 2018 (ZaDiG 2018) and the E-Money Act 2010, both FMA-supervised, with the Instant Payments Regulation fully applicable since 9 October 2025 and DORA since 17 January 2025; PSD3/PSR is heading toward adoption in 2026 after the political agreement of November 2025. Gambling is a federal monopoly under the Glücksspielgesetz (GSpG) 1989 — one online/lottery concession (win2day, Österreichische Lotterien) and up to 15 casino concessions (Casinos Austria), supervised by the BMF and the gambling authority at Finanzamt Österreich, with sports betting at provincial Länder level.

Belgium regulates crypto under MiCA through the Law of 11 December 2025, which splits competence between the FSMA (CASP authorisation and conduct, non-stablecoin issuers, market abuse) and the National Bank of Belgium (prudential supervision and ART/EMT issuers); Belgium took the full 18-month grandfathering, which expired on 1 July 2026, and had no domestic pre-MiCA VASP registrations. Payments and e-money run under the Act of 11 March 2018, supervised prudentially by the NBB with conduct rules enforced by the FPS Economy, alongside the Instant Payments Regulation (fully applicable since 9 October 2025) and DORA (since 17 January 2025); PSD3/PSR is heading toward adoption in 2026. Gambling is a closed (numerus clausus) federal system under the Gaming Act of 7 May 1999, supervised by the Belgian Gaming Commission, where an online licence (A+, B+, F1+) requires the matching land-based licence and a Belgian connection — the minimum age is 21 since September 2024 and the National Lottery is a separate state monopoly.

Bulgaria regulates crypto under MiCA through the Markets in Crypto-Assets Act (State Gazette No. 54 of 4 July 2025, in force 8 July 2025), with the Financial Supervision Commission (FSC) as competent authority for CASPs and ART issuers and the Bulgarian National Bank (BNB) for e-money tokens; the full 18-month grandfathering expired on 1 July 2026. Payments and e-money run under the Payment Services and Payment Systems Act, supervised by the BNB, with the Instant Payments Regulation (fully applicable since 9 October 2025) and DORA (since 17 January 2025) in force and PSD3/PSR approaching adoption. Gambling is licensed and supervised by the National Revenue Agency under the Gambling Act — lottery and toto are state-reserved, the GGR tax rose to 25% from 1 January 2026 — and Bulgaria adopted the euro on 1 January 2026 at the fixed rate EUR 1 = BGN 1.95583, joining the euro-area SSM.

Croatia regulates crypto under MiCA through the Act implementing Regulation (EU) 2023/1114 (Official Gazette 85/2024), with HANFA as competent authority for CASPs and HNB for asset-referenced and e-money tokens; the full 18-month grandfathering expired on 1 July 2026, and HANFA has begun authorising CASPs (Electrocoin was the first). Payments and e-money run under the Payment System Act (OG 66/2018) and the Electronic Money Act (OG 64/2018), supervised by the HNB, with the Instant Payments Regulation (fully applicable since 9 October 2025) and DORA (since 17 January 2025) in force and PSD3/PSR approaching adoption. Gambling is regulated by the Ministry of Finance (Tax Administration) under the Games of Chance Act, with Hrvatska Lutrija holding the state lottery monopoly and a 2025 reform — in force from early 2026 — tightening advertising, player protection and taxes; Croatia adopted the euro on 1 January 2023.

Cyprus regulates crypto under MiCA with CySEC as competent authority for CASPs and ART issuers, while e-money tokens fall to the Central Bank of Cyprus; the pre-MiCA national CASP register is being decommissioned, Cyprus took the full 18-month grandfathering to 1 July 2026, and CySEC required applications by 27 February 2026. Payments and e-money run under the Provision and Use of Payment Services and Access to Payment Systems Laws (PSD2) and the Electronic Money Laws (EMD2), supervised by the CBC, with the Instant Payments Regulation and DORA in force and PSD3/PSR approaching adoption. Gambling is unusual: the National Betting Authority licenses land-based (Class A) and online (Class B) betting under the Betting Law of 2019, but online casino is prohibited and land-based casino gaming is confined to a single integrated-resort licence — and a December 2025 tax reform raised corporate tax to 15% and introduced a flat 8% tax on certain crypto gains from 1 January 2026.

The Czech Republic regulates crypto under MiCA through the Digital Finance Act (Act No. 31/2025 Coll., effective 15 February 2025), with the Czech National Bank (ČNB) as competent authority for CASPs and the Financial Analytical Office (FAÚ) handling AML and out-of-scope VASPs; the transitional regime ran to 1 July 2026 for providers that applied by 31 July 2025. Payments and e-money run under the Payment System Act (Act No. 370/2017 Coll.), supervised by the ČNB, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is licensed by the Ministry of Finance under the Gambling Act in a liberalised, EU/EEA-open market with high capital and deposit requirements (CZK 50,000,000) and a 30%–35% gambling tax — and the Czech Republic uses the koruna and is outside the euro area and banking union, with a 2025 reform giving individuals a three-year holding exemption on crypto gains.

Denmark regulates crypto under MiCA, with Finanstilsynet (the Danish FSA) as competent authority for CASPs and ART/EMT issuers; its transitional regime ran the full 18 months to 1 July 2026 but required existing providers to apply by 30 December 2024, and Finanstilsynet takes a notably strict line on Danish substance and DeFi decentralisation. Payments and e-money run under the Payments Act (Lov om betalinger), supervised by Finanstilsynet, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is licensed by the Danish Gambling Authority (Spillemyndigheden) under the Ministry of Taxation in a liberalised EU/EEA-open market with a 28% GGR duty on online betting and casino — Denmark uses the krone (pegged to the euro through ERM II at 7.46038) and sits outside the euro area and banking union, so Finanstilsynet is the sole banking supervisor, while individual crypto gains are taxed heavily as personal income.

Estonia regulates crypto under MiCA through the Crypto-Asset Market Act (Krüptovaraturu seadus, in force 1 July 2024), which moved supervision from the Financial Intelligence Unit to Finantsinspektsioon; the transitional regime ran the full 18 months to 1 July 2026 but required existing VASPs to apply by 30 December 2024, and legacy VASP licences cease after that date. Payments and e-money run under the Payment Institutions and E-money Institutions Act, supervised by Finantsinspektsioon, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is licensed by the Estonian Tax and Customs Board (EMTA) under the Gambling Act through a two-step activity-licence and operating-permit process, with remote gambling taxed at 7% of GGR from 2026 — and Estonia is in the euro area and banking union, levies 0% corporate tax on retained profits, and taxes individual crypto gains at a flat 22%.

Finland regulates crypto under MiCA through the national CASP and Crypto-Asset Market Act, with Finanssivalvonta (FIN-FSA) as competent authority; the country took one of Europe's shortest transitions — six months, ended 30 June 2025 — so only MiCA-authorised firms may now operate. Payments and e-money run under the Payment Institutions Act (Maksulaitoslaki 297/2010), supervised by FIN-FSA, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is being transformed: the new Gambling Act (10/2026) opens betting, online casino and online bingo to a licensing system from 1 July 2027 under a new Finnish Supervisory Agency, while Veikkaus Oy keeps a monopoly on lotteries, scratch cards and land-based gaming — and Finland is in the euro area and banking union, and taxes individual crypto gains as capital income at 30% or 34%.

France regulates crypto under MiCA through Ordinance 2024-936 and Decree 2025-169 amending the Code monétaire et financier, with the AMF as competent authority for CASPs and the ACPR for asset-referenced and e-money token issuers; building on its pioneering PSAN/PACTE regime, France took the full 18-month transition to 1 July 2026. Payments and e-money run under the Code monétaire et financier, supervised by the ACPR, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Autorité nationale des jeux (ANJ): online sports betting, horse-race betting and poker are licensed, online casino remains prohibited, and FDJ and PMU hold monopolies on lotteries and retail betting — and France is in the euro area and banking union, taxes individual crypto gains at the 30% PFU flat tax, and runs a JONUM pilot for Web3 games.

Germany regulates crypto under MiCA through the Financial Market Digitisation Act (FinmadiG) and the Crypto Markets Supervision Act (KMAG), with BaFin as competent authority; building on its world-first 2020 crypto-custody licence under the Banking Act, Germany took a 12-month transition that ended 31 December 2025 and now has the EU's largest authorised-CASP population. Payments and e-money run under the Payment Services Supervision Act (ZAG), supervised by BaFin, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling runs under the Interstate Treaty on Gambling 2021: the GGL issues nationwide licences for online sports betting, virtual slots and poker, online casino table games are regulated at Länder level, and a 5.3% tax applies to stakes — and Germany is in the euro area and banking union, and crypto gains are tax-free for individuals after a one-year holding period.

Greece regulates crypto under MiCA through Law 5193/2025, with the Hellenic Capital Market Commission (HCMC) as competent authority for CASPs and the Bank of Greece for e-money tokens and banking; an early mover, Greece took a 12-month transition that ended 31 December 2025, with HCMC Decision 8/1059 setting the authorisation procedure. Payments and e-money run under Law 4537/2018 (PSD2) and Law 4021/2011 (EMD2), supervised by the Bank of Greece, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Hellenic Gaming Commission under Law 4002/2011 as amended by Law 4635/2019: online betting (Type 1) and other online games of chance (Type 2) are licensed, OPAP retains a monopoly on VLTs and lotteries, and GGR is taxed at 35% — and Greece is in the euro area and banking union, taxes individual crypto gains at a flat 15%, and prohibits gambling payments in cryptocurrency.

Hungary regulates crypto under MiCA through the Crypto Asset Market Act (Act VII of 2024), with the Magyar Nemzeti Bank (MNB) as competent authority; it took a 6-month transition that ended 1 July 2025, then layered a uniquely restrictive national validation and criminal-law regime that, following the April 2026 change of government, is being dismantled and replaced with a MiCA-aligned framework. Payments and e-money run under Hungarian law transposing PSD2 and EMD2, supervised by the MNB, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the SZTFH under Act XXXIV of 1991: online sports betting is open to EEA operators, online casino is tethered to a land-based concession, and Szerencsejáték Zrt. holds the lottery and retail-betting monopoly — and Hungary uses the forint, sits outside the euro area and banking union, and offers a 15% flat personal income tax on crypto and a 9% corporate rate.

Iceland applies MiCA through the EEA Agreement, with the Central Bank of Iceland (which absorbed the Financial Supervisory Authority in 2020) as the competent authority for CASP authorisation and supervision; MiCA was incorporated into the EEA Agreement in 2025 and Iceland implemented it later than the EU, around the end of 2025, so its grandfathering window runs from that entry into force. Payments and e-money follow PSD2 and EMD2 via the EEA Agreement, supervised by the Central Bank, with DORA in force. Gambling is highly restrictive: a state and charity monopoly under the Lotteries Act, with no private or online-casino licensing — and Iceland uses the króna, sits outside the euro area and banking union, and taxes individual crypto gains at a flat 22% as capital income.

Ireland regulates crypto under MiCA through the European Union (Markets in Crypto-Assets) Regulations 2024 (S.I. 607/2024), with the Central Bank of Ireland as competent authority; it took a 12-month transition that ended 30 December 2025 off its pre-MiCA VASP registration regime, applying a high authorisation threshold focused on consumer protection. Payments and e-money run under S.I. 6/2018 (PSD2) and S.I. 183/2011 (EMD2), supervised by the Central Bank, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is being overhauled by the Gambling Regulation Act 2024, which created the Gambling Regulatory Authority of Ireland (GRAI): betting licences have been issued since February 2026, with gaming and other categories phasing in through 2027 — and Ireland is in the euro area and banking union, and taxes individual crypto disposals at 33% CGT.

Italy regulates crypto under MiCA through Legislative Decree 129/2024, with CONSOB as competent authority for CASP authorisation and conduct and the Bank of Italy for prudential supervision of asset-referenced and e-money tokens; it ran a compressed transition off its OAM-register VASP regime, requiring applications by 30 December 2025 with a hard stop of 30 June 2026. Payments and e-money run under the Consolidated Banking Act and Legislative Decree 11/2010 (PSD2), supervised by the Bank of Italy, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Customs and Monopolies Agency (ADM): a mature, fully-licensed remote market whose 2025 tender awarded nine-year concessions at a EUR 7 million fee — and Italy is in the euro area and banking union, and taxes individual crypto gains at 33% from 2026 (with a 26% carve-out for euro stablecoins).

Latvia regulates crypto under MiCA through its Law on Crypto-asset Services, with Latvijas Banka (the Bank of Latvia, the integrated supervisor) as competent authority; it took a 6-month transition that ended 30 June 2025 and has positioned itself as a crypto-friendly gateway, with free pre-licensing consultations, a low EUR 2,500 application fee, and its first CASP licences granted in December 2025. Payments and e-money run under the Law on Payment Services and Electronic Money (PSD2/EMD2), supervised by Latvijas Banka, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Lotteries and Gambling Supervisory Inspection (IAUI) under the Gambling and Lotteries Law — and Latvia is in the euro area and banking union, taxes individual crypto gains at 25.5% (with crypto-to-crypto deferred), and applies a 0% corporate tax on retained profits.

Liechtenstein was the earliest EEA mover on MiCA, with the FMA (Financial Market Authority) as the competent authority for CASP authorisation; its EEA MiCA Implementation Act (EWR-MiCA-DG) entered into force on 1 February 2025, ahead of MiCAR's incorporation into the EEA Agreement on 24 June 2025, with the transition running to 1 July 2026. Its pioneering TVTG Blockchain Act now runs alongside MiCAR, continuing to govern NFTs and the civil-law aspects of tokens. Payments and e-money follow PSD2 and EMD2 via the EEA, supervised by the FMA, with DORA in force; gambling runs under the Gambling Act, supervised by the Office of Economic Affairs, with a moratorium on new casino permits and online-gambling concessions — and Liechtenstein uses the Swiss franc, levies no capital gains tax on private crypto, and applies a wealth tax instead.

Lithuania regulates crypto under MiCA through its Law on Cryptoasset Markets, with the Bank of Lithuania as competent authority; it set one of the EU's shortest transitions — extended by parliament to 1 January 2026 — off a once-popular VASP regime. As the EU's largest payments and e-money hub, Lithuania licenses payment and e-money institutions through the Bank of Lithuania with direct SEPA access via CENTROlink, under the PSD2/EMD2 transposition, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Gaming Control Authority (LPT) under the Gaming Law: remote gambling is licensed, taxed on gross gaming revenue, and the minimum age was raised to 21 in July 2025 — and Lithuania is in the euro area and banking union, and taxes individual crypto gains at 15% (with progressive rates from 2026).

Luxembourg regulates crypto under MiCA through the Law of 6 February 2025, with the CSSF as competent authority; it took the full 18-month transition to 1 July 2026 off its national VASP regime, and has become a chosen EU hub for major firms such as Coinbase and Ripple. As a leading financial centre, Luxembourg hosts major payment and e-money institutions (including PayPal Europe and Amazon Payments Europe) licensed by the CSSF under the Law of 10 November 2009 (PSD2/EMD2), with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is tightly restricted under the Law of 20 April 1977: only the state Loterie Nationale (lottery and sports betting) and Casino 2000 operate, with no private online licensing — and Luxembourg is in the euro area and banking union, and exempts individual crypto gains held more than six months from income tax.

Malta regulates crypto under MiCA through the Markets in Crypto-Assets Act (Cap. 647), with the MFSA as competent authority; building on its pioneering 2018 Virtual Financial Assets Act, it took the full 18-month transition to 1 July 2026 with a streamlined VFA-to-CASP conversion, and granted some of the EU's first CASP licences (OKX, Crypto.com, Gemini, BVNK). Payments and e-money run under the Financial Institutions Act (PSD2/EMD2), supervised by the MFSA, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is the country's signature sector: the Malta Gaming Authority licenses B2C and B2B operators under the Gaming Act, with a 5% gaming tax on Malta-based-player revenue, making Malta the EU's dominant iGaming hub — and Malta is in the euro area and banking union, and does not tax long-term investment crypto gains while taxing trading at 0–35%.

The Netherlands regulates crypto under MiCA through amendments to the Financial Supervision Act (Wft), with the AFM as the lead CASP authority and DNB on prudential and ART/EMT supervision; it took one of the EU's shortest transitions, ending 30 June 2025, and granted some of the EU's first CASP licences. Payments and e-money run under the Wft (PSD2/EMD2), supervised by DNB, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Kansspelautoriteit (KSA) under the Betting and Gaming Act and the Remote Gambling Act, with online gambling taxed on gross gaming revenue at a rising rate (37.8% in 2026) plus a levy — and the Netherlands is in the euro area and banking union, and taxes private crypto holdings under the Box 3 wealth-tax system rather than as capital gains.

Norway applies MiCA through the EEA Agreement via its Crypto Assets Act (kryptoeiendelsloven), with Finanstilsynet (the Financial Supervisory Authority) as the competent authority for CASP authorisation; the transition was originally set to 30 December 2025 and extended to 1 July 2026, and the first Norwegian CASPs were licensed in 2026. Payments and e-money follow PSD2 and EMD2 via the EEA, supervised by Finanstilsynet, with DORA in force and PSD3/PSR ahead. Gambling is one of Europe's strictest state monopolies, with only Norsk Tipping and Norsk Rikstoto permitted under the Gaming Act, enforced by Lotteritilsynet with DNS blocking of unlicensed sites — and Norway uses the krone, sits outside the euro area and banking union, and taxes crypto gains at a flat 22% while also applying a wealth tax on holdings.

Poland is the only EU member state with no national MiCA implementing law in force: the Crypto-Assets Market Act was vetoed twice (December 2025 and February 2026) and a parliamentary override failed in April 2026, so the KNF is not designated as the CASP competent authority and cannot process CASP applications. From 1 July 2026 the only lawful route to serve Polish clients is a CASP authorisation obtained in another Member State and passported in under Article 65 MiCA; the KNF remains competent only for e-money token issuers. Payments and e-money run under the Payment Services Act (PSD2/EMD2), supervised by the KNF, with a small-payment-institution tier; gambling is a state monopoly under the Gambling Act, with online casino reserved to the state-owned Totalizator Sportowy — and Poland uses the złoty, sits outside the euro area and banking union, and taxes individual crypto disposals at a flat 19%.

Portugal regulates crypto under MiCA through its MiCA Implementation Act (Law 69/2025 of 22 November 2025), which designates a twin-peaks model: the Banco de Portugal as the authorising and prudential authority for CASPs (applications are filed with it) and the CMVM for conduct and market abuse. It took the full 18-month transition to 1 July 2026, building on the Banco de Portugal's pre-MiCA VASP register. Payments and e-money run under the RJSPME (PSD2/EMD2), supervised by the Banco de Portugal, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption; gambling is regulated by the SRIJ under the Online Gambling Legal Framework (RJO), with online sports betting taxed on turnover and online casino on gross gaming revenue — and Portugal is in the euro area and banking union, and exempts individual crypto gains on assets held for 365 days or more while taxing short-term gains at 28%.

Romania regulates crypto under MiCA through Government Emergency Ordinance 10/2025 (in force 13 March 2025), which designates the ASF (Financial Supervisory Authority) as the primary CASP authority and the BNR (National Bank of Romania) for e-money tokens, payments and banking; it took the full 18-month transition to 1 July 2026 and adds two distinctive local requirements: a 0.5% monthly supervisory fee on CASP operating revenue and a mandatory ADR technical clearance before applying. Payments and e-money run under Law 209/2019 (PSD2/EMD2), supervised by the BNR, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the ONJN under GEO 77/2009, with online gross-gaming-revenue tax raised to 30% from August 2025 and a mandatory Romanian establishment — and Romania uses the leu, sits outside the euro area and banking union, and taxes individual crypto gains at 16% from 2026.

Slovakia regulates crypto under MiCA with the National Bank of Slovakia (NBS) as the sole competent authority for CASP authorisation and prudential and conduct supervision; it set a shortened 12-month transition that ended 30 December 2025, building on a pre-MiCA AML registration. Payments and e-money run under the Payment Services Act (PSD2/EMD2), supervised by the NBS, with the Instant Payments Regulation and DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by the Office for the Regulation of Gambling (URHH) under the Gambling Act, with online casino and sports betting open to EU/EEA operators and an online levy raised to 30% in December 2025 — and Slovakia is in the euro area and banking union, and applies a favourable 7% tax on individual gains from crypto held over one year (versus 19–25% for short-term), with crypto-to-crypto swaps exempt.

Slovenia regulates crypto under MiCA through its implementing act (ZIUTK, Official Gazette 95/2024), with the Securities Market Agency (ATVP) as the main CASP authority and Banka Slovenije for e-money tokens; it took a short 6-month transition that ended 1 July 2025 and did not apply the simplified conversion for legacy providers. From 1 January 2026 Slovenia introduced a flat 25% tax on individual crypto disposal profits, ending the prior tax-free position, with crypto-to-crypto swaps exempt. Payments and e-money run under the ZPlaSSIED (PSD2/EMD2), supervised by Banka Slovenije, with the Instant Payments Regulation and DORA in force; gambling is one of the EU's most restrictive markets, supervised by FURS under the Gaming Act — and Slovenia is in the euro area and banking union.

Spain regulates crypto under MiCA with the CNMV (National Securities Market Commission) as the sole competent authority for CASP authorisation and Banco de España for asset-referenced and e-money tokens; it took the full 18-month transition ending 1 July 2026, and the Bank of Spain's legacy virtual-currency register is now informational only. Spain taxes individual crypto gains as savings income at progressive rates up to 30% (raised in 2025), with crypto-to-crypto swaps taxable and a Modelo 721 declaration for foreign holdings over €50,000. Payments and e-money run under Real Decreto-ley 19/2018 (PSD2/EMD2), supervised by Banco de España, with the Instant Payments Regulation and DORA in force; gambling is regulated by the DGOJ under Law 13/2011, with a 20% GGR tax and strict advertising rules — and Spain is in the euro area and banking union.

Sweden regulates crypto under MiCA with Finansinspektionen (the Financial Supervisory Authority) as the sole competent authority for CASP authorisation and supervision; it set a 9-month transition that ended 30 September 2025, with no fast-track procedure for pre-MiCA registrants. Payments and e-money run under the Payment Services Act (PSD2) and E-Money Act (EMD2), supervised by Finansinspektionen, with DORA in force and PSD3/PSR moving toward adoption. Gambling is regulated by Spelinspektionen under the Gambling Act, in a fully open licensing model with the GGR tax raised to 22% in July 2024 — and Sweden uses the krona, sits outside the euro area and banking union, and taxes crypto gains at a flat 30% (with only 70% of losses deductible), reported on the K4 form.

Albania has one of the region's earliest dedicated crypto frameworks — Law No. 66/2020 on Financial Markets Based on Distributed Ledger Technology (in force 1 September 2020), with five licence types issued by AFSA together with NAIS/AKSHI for technology certification. Payments and e-money are regulated by the Bank of Albania under Law No. 55/2020 on Payment Services (PSD2 transposition; open banking live from November 2024). Gambling was near-totally banned from 1 January 2019 under amendments to Law No. 155/2015 — only 5-star-hotel casinos, TV bingo and the national lottery survived — until Law No. 18/2024 reintroduced regulated online sports betting (max 10 licences).

Law on Crypto-Assets adopted 29 May 2025, in force 4 July 2025 — MiCA-modelled. CBA is sole licensing regulator; minimum capital ~USD 30k–530k. Gambling regulated by Ministry of Finance with State Revenue Committee supervision; land-based casinos restricted to four zones; consolidated Law on Regulation of Gambling Activity due to enter force by end-2026.

No crypto law in force as of May 2026; CBA co-authoring a draft virtual asset law (supervisory + sandbox), expected since end-2025 under the 2024–2026 financial market development strategy. Gambling banned since 1998; narrow exceptions for Azerlotereya (state lottery) and Topaz (sports betting monopoly). January 2026 law permits casinos only on artificial islands in the Caspian Sea.

Crypto regulated through Decree No. 8 of 2017 (effective 2018) under the High-Tech Park regime, extended to 1 January 2049. Decree No. 19 of 16 January 2026 establishes licensed "crypto banks" — HTP-resident joint-stock companies under dual National Bank / HTP regulation. Gambling regulated by the Ministry of Taxes and Duties under the Law on Gambling Business and Decree No. 305 of 2018; online gambling legal since April 2019.

No dedicated crypto licence; virtual-asset and crypto-asset platforms became AML obligated entities under the state Law on the Prevention of Money Laundering and Financing of Terrorist Activities (Official Gazette of BiH No. 13/24, in force 28 February 2024). Payments and e-money are entity-level — Republika Srpska's Law on Electronic Money (OG RS No. 1/24, applicable from 4 July 2024) supervised by ABRS. Gambling is entity-split: FBiH (2015), RS (2019, OG RS 22/19) and Brčko District (2022).

Three transparent tracks: NBG registers VASPs and licenses payment service providers; Revenue Service issues gambling licences under the 2005 Gambling Law, with a 5% GGR rate for foreign-only operators.

Gibraltar is a low-tax British Overseas Territory and a pioneer in crypto regulation, with a major established e-money and online-gambling sector. Crypto runs under the Distributed Ledger Technology (DLT) Framework — the world's first, since 1 January 2018 — under which the GFSC authorises DLT Providers against ten regulatory principles, plus VASP/AML registration under the Proceeds of Crime Act 2015; Gibraltar is outside the EU so MiCA does not apply (the GFSC is aligning with it), recognised crypto as personal property in 2026 and is building a first-of-its-kind crypto clearing-and-settlement regime. Payments run under the Financial Services Act 2019 with direct UK market access via the Gibraltar Authorisation Regime, and gambling (around 30% of GDP) is regulated by the Gambling Commissioner under the new Gambling Act 2025 (passed 18 March 2026) — six licence categories, substantive-presence rules, a low 0.15% gaming tax but a heavy dual burden from the UK's 40% Remote Gaming Duty.

The Guernsey Financial Services Commission licenses VASPs under Part III of the Lending, Credit and Finance regime. Activity is restricted to institutional and wholesale clients.

The Isle of Man Financial Services Authority registers VASPs under the Designated Businesses Act 2015 and AML/CFT Code. The regime is AML-focused, not full prudential licensing.

Jersey is a tax-neutral British Crown Dependency that regulates crypto and payments through the JFSC and gambling through the JGC. Virtual asset service providers register with the JFSC for AML/CFT under the Proceeds of Crime (Jersey) Law (FATF-aligned since January 2023), with no conduct or capital requirements unless the activity also falls under the Financial Services (Jersey) Law — a security-token platform needs an investment-business licence (capital, presence, 10% tax vs the standard zero); stablecoins must be fully backed, and Jersey has implemented the OECD CARF. Payments run under the money-service-business class (no EU-style e-money licence), and gambling is a boutique JGC regime — a single Remote Operators Licence plus B2B platform, hosting and software permits, requiring Jersey incorporation or a Jersey-based server, with competitive fees and low tax.

No crypto law in force as of May 2026. First MiCA-aligned framework drafted by Ministry of Finance + BNM + CNPF + SPCSB, planned for enactment by end-2026. Gambling near-total state monopoly under Law 291/2016; only land-based casinos open to private operators (foreign ownership capped at 49%).

Montenegro adopted its first-ever crypto-asset framework on 28 February 2025 as amendments to the AML law (a CASP registration model, not a standalone licence), with the Capital Market Authority as registry/regulator and the Central Bank (CBCG) in a supporting AML role. Payments and e-money are regulated by the CBCG under the PSD2-aligned Payment System Law (in force 8 October 2023); Montenegro joined SEPA in 2024–2025. Gambling is legal and licensed under the New Games of Chance Act (adopted 31 July 2025), which replaced the concession model with an approval-based licensing regime; online gambling is available only to land-based special-games licensees. Montenegro unilaterally uses the euro.

North Macedonia has no dedicated crypto law; virtual assets sit in a legal grey zone, captured only by the AML/CFT Law (Official Gazette 4 July 2022, transposing EU Directive 2018/843), with MiCA-aligned draft legislation in development. Payments and e-money are regulated by the National Bank under the Law on Payment Services and Payment Systems (Official Gazette No. 90/2022, in force 1 January 2023, transposing PSD2/EMD2). Gambling is legal and licensed under the Law on Games of Chance and Entertainment Games (Ministry of Finance), with casinos, betting shops and slot clubs licensed and lottery/online a state monopoly; significant 7 February 2024 amendments tightened the regime.

One of the few full crypto licensing regimes in Europe outside the EU/EEA. NBS licenses virtual-currency DASPs and the Securities Commission licenses digital-token DASPs under the Law on Digital Assets 2020. Gambling under the Games of Chance Administration.

Switzerland regulates crypto, payments and gambling through its established financial-market statutes applied technology-neutrally, supervised by FINMA — there is no standalone crypto or payments law. Crypto firms map onto SRO/AMLA affiliation, the FinTech licence (deposits up to CHF 100m), a banking licence, a securities-firm licence or the DLT trading facility licence created by the DLT Act 2021, with the FinIA reform (consultation closed February 2026) adding Payment Institution and Crypto Institution licences from around 2027. Payments use the banking/FinTech licence, the CHF 1m sandbox or AMLA/SRO affiliation (no EU-style e-money licence); gambling runs under the Money Gaming Act 2019, split between ESBK (casinos and online casino as an extension to a land-based concession) and Gespa (lotteries and sports betting — Swisslos/Loterie Romande monopolies), with unlicensed sites DNS-blocked.

Ukraine has three licensing tracks: gambling under PlayCity, payments under the NBU, and crypto pending the second reading of Bill 10225-d. Each track has its own regulator.

The United Kingdom regulates crypto, payments and gambling through mature single-regulator regimes that are mid-overhaul. Cryptoassets move from FCA AML registration (MLRs 2017) into the full FSMA perimeter under the Cryptoasset Regulations 2026 (gateway opens September 2026, regime live 25 October 2027); stablecoins split between FCA solo-regulation (non-systemic) and Bank of England plus FCA dual regulation (systemic). Payments sit with the FCA under the PSRs 2017 and EMRs 2011 with mandatory APP-fraud reimbursement and a new safeguarding regime from May 2026, while gambling under the Gambling Act 2005 and the Gambling Commission has been reshaped by the 2023 White Paper and a sharp duty rise (Remote Gaming Duty 40% from April 2026; 25% remote betting from April 2027).

The Central Bank of Bahrain licenses crypto-asset services under Volume 6 of the CBB Rulebook, covering four CRA categories, the 2025 Stablecoin Issuance Module and AML rules.

Israel's Capital Market, Insurance and Savings Authority licenses virtual-currency businesses as financial asset service providers. Virtual currency is treated as a financial asset.

Kuwait enforces an "absolute prohibition" on virtual assets — crypto payments, investment, services/licensing and mining are banned by coordinated 17 July 2023 circulars from the Central Bank of Kuwait, the Capital Markets Authority, the Insurance Regulatory Unit and the Ministry of Commerce. Electronic payments and e-money are regulated by the Central Bank of Kuwait under Resolution No. 45/471/2023 (replacing the 2018 instructions), within Law No. 20 of 2014 on electronic transactions. Gambling is comprehensively prohibited under the Kuwaiti Penal Code (Law No. 31 of 1970) and Islamic Sharia law; there is no regulator or licence.

Lebanon has no crypto licensing regime — BDL Circular 6102 of 2018 bars licensed banks and financial institutions from any virtual-asset activity, leaving the sector in an unregulated grey zone. Payments operate under the Banque du Liban (BDL) Electronic Payment Services Provider (EPSP) regime, with Intermediate Decision No. 13791 of 9 January 2026 introducing capital, governance and AML/KYC tightening. Gambling is a strict state monopoly: Casino du Liban (land-based) and La Libanaise des Jeux (LLDJ, lotteries and sports betting) — no private licences are available.

Oman has no enacted standalone crypto law yet, but the Capital Market Authority (now Financial Services Authority) is actively building a Virtual Assets Regulatory Framework — announced February 2023, with public consultations in 2023 and a finalising consultation in 2025 — to license all VASP categories; crypto is currently captured by AML/CFT rules (Royal Decree No. 30 of 2016) and CMA Decision No. E/35/2023. Payments and e-money are regulated by the Central Bank of Oman under the National Payment Systems Law (Royal Decree No. 8/2018) and its 2019 Executive Regulation. Gambling is comprehensively prohibited under the Basic Law (Sharia basis) and the Omani Penal Law; there is no regulator or licence.

The QFC Digital Assets Framework (2024) licenses tokenisation and investment tokens via the QFCRA. QCB covers mainland banking and payments; QFMA covers tokenised securities.

Restrictive jurisdiction. No retail VASP licence; SAMA licenses Payment Service Providers under the Law of Payments and Payment Services. Gambling is fully prohibited under Sharia.

Turkey's Capital Markets Board licenses crypto-asset service providers under Law No. 7518 and 2025 communiqués. MASAK handles AML; TCMB enforces the payment-use ban.

The UAE runs five parallel crypto regulators — federal SCA and CBUAE, Dubai's VARA, and the free-zone DFSA (DIFC) and FSRA (ADGM) — each licensing virtual-asset activity within its own scope. CBUAE governs payments and stored value. Gambling, once broadly prohibited, is now exclusively federal under the GCGRA: the UAE Lottery is live, Wynn Al Marjan Island holds the first 15-year land-based casino licence (opening ~2027), and a monitored online-gaming trial began in late 2025.

Algeria is not a crypto or private iGaming licensing jurisdiction. The viable regulatory routes are in financial services, under the Bank of Algeria.

CEMAC member with no national crypto law; crypto effectively prohibited for regulated financial institutions under regional COBAC Decision D-2022/071 of 6 May 2022, and BEAC reaffirmed opposition in January 2024. Payments and e-money regulated regionally under CEMAC Regulation No. 04/18/CEMAC/UMAC/CM/COBAC of 21 December 2018 (in force 1 January 2019), authorised by the national monetary authority on COBAC approval. Gambling (casinos, sports betting, lotteries, raffles) is legal and licensed under general law via the ministries of commerce and finance, with no dedicated regulator and online in a legal grey area.

No enacted crypto or virtual-asset law — a draft Digital Assets Bill remained in inter-ministerial/parliamentary review through 2025–2026. Payments and e-money are licensed by the Banque Centrale du Congo under Instruction No. 24 of 11 November 2011 (EMI minimum capital US$2.5m), with Instruction No. 58/2024 mandating mobile-money/payment-network interoperability. Gambling is split between the Ministry of Finance, the Ministry of Sports and Leisure and the state lottery SONAL (established by 1984 ordinance), with no enacted online regime.

Crypto prohibited under Article 206 of Law No. 194 of 2020. Payments licensed by the CBE under the comprehensive 2025 PSP/PSO Rules. Gambling is criminalised for Egyptian citizens but legal at licensed land-based casinos for non-Egyptian passport holders only.

Crypto legalised 30 December 2025 with the Virtual Asset Service Providers Act (Act 1154). Dual-regulator: BoG (payments/stablecoins) + SEC (exchanges/custody/tokens). Gambling under Gaming Act 2006 with five licence classes via the Gaming Commission.

Kenya has three separate licensing tracks: crypto (VASP Act 2025), regulated financial services (CBK/CMA), and gambling (Gambling Control Act 2025). Each has its own regulator and timeline.

Libya bans cryptocurrency — the Central Bank of Libya declared virtual currencies illegal in 2018 and enforcement continues (2025 mining prosecutions); no national crypto law. Payments and e-money are controlled solely by the Central Bank of Libya under Banking Law No. 1 of 2005 (amended Law No. 46 of 2012; interest prohibited Law No. 1 of 2013) via the National Payments Council. Gambling is criminally prohibited under Penal Code Articles 492–495 and, for online, Article 31 of Cybercrime Law No. 5 of 2022. Politically divided jurisdiction with significant sanctions and country-risk exposure.

Mali is a WAEMU member with no domestic crypto law; crypto sits in a legal grey zone and the only tangentially applicable instrument is BCEAO Instruction No. 008-05-2015 on electronic-money issuers (AML/CFT). Payments and e-money are regulated regionally by the BCEAO under Instruction No. 008-05-2015 and Instruction No. 001-01-2024 (in force 23 January 2024; PI and EMI categories; transition extended to 31 August 2025), licensed country-by-country. Gambling is state-controlled: PMU-Mali (created 1994; absorbed the national lottery LONAMA in 2003) is the sole authorised betting/lottery operator, and casinos are legal in 5-star hotels under Law No. 96-021 of December 1995; online unregulated. Acute post-2021 political-transition and announced ECOWAS-exit context.

Mauritania has no specific crypto law; cryptocurrencies are not legal tender, the Banque Centrale de Mauritanie (BCM) has warned about crypto risk, and Islamic-finance principles shape the regulatory approach (the BCM is exploring a "digital ouguiya" CBDC with Giesecke+Devrient from April 2024). Electronic payments are regulated by the BCM under the June 2021 electronic-payment-services law, with the GIMTEL national switch and growing mobile money. Gambling is comprehensively prohibited as Mauritania is an Islamic Republic whose legal system is based on Sharia; there is no regulator, statute or licence.

One of few African jurisdictions with live licensing across crypto (FSC under VAITOS), banking and payments (Bank of Mauritius), and remote betting and digital gaming (GRA).

Morocco is in transition: from the November 2017 prohibition of crypto transactions to Draft Bill 42.25 (November 2025) proposing AMMC-licensed CASPs and BAM-regulated stablecoins, MiCA-aligned but not yet enacted. Gambling is legal under Dahir No. 1-65-206 of 1966 via state monopolies.

WAEMU member with no domestic crypto law; crypto sits in a legal grey zone and the only tangentially applicable instrument is BCEAO Instruction No. 008-05-2015 on electronic-money issuers (AML/CFT). Payments and e-money regulated regionally by the BCEAO under Instruction No. 008-05-2015 and the new Instruction No. 001-01-2024 (effective 23 January 2024; PI and EMI categories; transition ended 1 May 2025), licensed country-by-country. Gambling is a state monopoly run by the National Lottery of Niger (LONANI); no private-operator licensing and online unregulated. Acute post-2023 political-transition and announced ECOWAS-exit context.

Nigeria is not a one-regulator jurisdiction. Crypto falls under SEC, payments under CBN, and iGaming is state-level. The correct path depends on your exact product.

No national crypto law; IMF lists Republic of Congo among CEMAC states with effective crypto bans; COBAC Decision of May 2022 prohibits banks, microfinance and payment institutions from facilitating crypto transactions. Payments and e-money regulated regionally under CEMAC Regulation No. 04/18/CEMAC/UMAC/CM/COBAC of 21 December 2018 (in force 1 January 2019), authorised by the national monetary authority on COBAC approval. Gambling consolidated under national Law No. 37-2024 of 12 December 2024, alongside the state lottery operator COGELO under the Ministry of Finance.

First virtual asset law unanimously adopted by Parliament on 5 May 2026. CMA designated primary regulator; NBR coordinates financial stability. Gambling regulated by Rwanda Development Board under the 2024 Gambling Policy and legacy Law n°58/2011; licensing resumed 1 August 2025.

Seychelles is FSA-regulated for crypto (VASP Act 2024), securities, fund management and gambling, with the Central Bank licensing banks under the Financial Institutions Act 2004.

Crypto licensing available via FSCA; banking available via the Prudential Authority; online sports betting available province by province. Private online casino licensing is not available nationally.

No virtual-asset law; the Central Bank of Sudan warned in March 2022 that cryptocurrencies are not money or property and carry high risk — only the Electronic Transactions Act 2007 (pre-Bitcoin) plus AML circulars apply. Payments and e-money are controlled by the CBOS via the state-owned Electronic Banking Services (EBS) switch under the Banking Business Act and revised post-2020 e-money regulations. Gambling is criminally prohibited under the Sudan Criminal Act 1991 and Sharia. The country is in active armed conflict since April 2023 with fractured financial infrastructure and severe sanctions exposure.

Tunisia prohibits unauthorised crypto under a May 2018 Central Bank of Tunisia (BCT) directive enforced through the foreign-exchange-control code (penalties up to five years' imprisonment); a draft March 2024 exchange code would permit BCT-authorised crypto holding/exchange but is unenacted. Payments and e-money are regulated by the BCT under Banking Law No. 2016-48 of 11 July 2016. Gambling is tightly state-controlled: casinos under Decree-Law No. 74-21 of 1974 (non-residents only), and a Promosport state monopoly over sports betting and lotteries (including online) under Law No. 84-63 of 1984; a January 2026 bill would criminalise unlicensed online gambling.

Australia is integrating crypto, payments and gambling into its existing financial-services law rather than building standalone regimes. Crypto faces two parallel 2026 reforms: a FATF-aligned VASP regime under the amended AML/CTF Act (AUSTRAC, from 31 March 2026), and the Corporations Amendment (Digital Assets Framework) Act 2026 (commencing 9 April 2027) making Digital Asset Platforms and Tokenised Custody Platforms AFSL-licensed under ASIC, with stablecoins on the payments track. Payments are being modernised under the Payments System Modernisation Act 2025 and a new PSP licensing framework (SVFs, tokenised stablecoins, payment instruments and services; APRA prudential oversight of major SVFs above AUD 200m), while gambling is state/territory-licensed within the federal Interactive Gambling Act 2001 (online casino/poker/in-play banned; ACMA blocks illegal sites; BetStop national self-exclusion).

China prohibits crypto activity entirely — the PBoC + 9-agency Notice of 15 September 2021 declared all virtual-currency business an 'illegal financial activity', reaffirmed at the 28 November 2025 PBoC inter-agency coordination meeting (13 departments). Payments are licensed federally by the PBoC under the Regulation on Supervision and Administration of Non-Bank Payment Institutions (in force 1 May 2024), with minimum registered capital of RMB 100 million and long-term licences from 2024. Gambling is criminally prohibited under Article 303 of the Criminal Law, with only the China Welfare Lottery and China Sports Lottery as Ministry-of-Finance-supervised state monopolies; the only legal digital currency is the e-CNY.

Hong Kong regulates crypto through a dual-regulator model: the SFC licenses virtual asset trading platforms under the AMLO and SFO (mandatory since 1 June 2023), and the HKMA licenses fiat-referenced stablecoin issuers under the Stablecoins Ordinance (Cap. 656, effective 1 August 2025; HKD 25m capital, full reserve backing). Payments run through the HKMA's Stored Value Facility licence (HKD 25m capital) and MSO registration with Customs & Excise. Gambling is among the world's most restrictive: only the Hong Kong Jockey Club is authorised (horse racing, football, Mark Six lottery), online betting is HKJC-only, and a 2025 basketball-betting law was suspended in April 2026 pending a prediction-markets review.

India has no single VDA licence. Providers register with FIU-IND under the PMLA, and the Income-tax Act 2025 adds a 30% tax, 1% withholding and crypto transaction reporting from April 2026.

Indonesia regulates cryptoassets through the OJK, which took over from Bappebti on 10 January 2025. OJK licenses exchanges, clearers, custodians and traders under PP 49/2024 and POJK rules.

Japan is mid-transition, moving crypto from the Payment Services Act (PSA) toward the Financial Instruments and Exchange Act (FIEA). Crypto exchanges register with the FSA as CAESPs today; a FIEA amendment (Cabinet-approved 10 April 2026, passed by the Lower House, not yet law) would reclassify crypto as financial instruments — insider-trading rules, disclosure, a path to spot ETFs, and a separate flat 20% tax expected 2028 — effective around 2027; stablecoins stay under the PSA as Electronic Payment Instruments issuable only by banks, trust companies and fund-transfer providers. Payments run under the PSA (funds-transfer Type 1 licensed, Types 2–3 registered; prepaid instruments; BNPL under METI), and gambling is prohibited by the Penal Code except narrow public channels — casinos only inside Integrated Resorts (only Osaka approved, MGM Osaka ~2030) plus public racing, lottery and football toto — with private and offshore online casino illegal and facing an intensifying 2025–2026 crackdown.

Dual track: AFSA inside the AIFC for crypto, custody, broking and payments under common-law rules; Ministry of Digital Development for mining and non-AIFC circulation. Gambling under Ministry of Tourism and Sports.

The Securities Commission Malaysia regulates digital assets under the CMSA 2007 and the 2019 Prescription Order, treating qualifying digital tokens and currencies as securities.

New Zealand regulates crypto technology-neutrally under existing financial-services law — there is no bespoke crypto statute, with FMA-supervised FMC Act 2013, FSPR registration, AML/CFT Act 2009 (DIA as VASP supervisor) and IRD taxation as property. There is no specific PSP/e-money licence: payments sit under the FMC Act 2013, the Retail Payment System Act 2022 and the FMI Act, with banking under RBNZ. Gambling runs under the Gambling Act 2003 (six classes, including casino and Lotto NZ) with TAB NZ holding the exclusive online race/sports monopoly; the Online Casino Gambling Act 2025 introduces up to 15 DIA-licensed online operators from Q1 2027.

Pakistan launched its first crypto-licensing regime in July 2025 under the Virtual Assets Ordinance, formalised as the Virtual Assets Act in February 2026. PVARA licenses VASPs. Gambling is prohibited under the 1977 Prevention of Gambling Act.

The Philippines runs parallel crypto regimes: BSP VASP licences are under moratorium; SEC's 2025 CASP Rules cover platforms serving Filipinos. PAGCOR handles domestic gambling.

Singapore regulates crypto and payments through MAS on an activity basis, and gambling through the GRA — two single, demanding regulators. Crypto services to Singapore customers fall under the Payment Services Act 2019 (SPI/MPI licences for DPT services), securities tokens under the Securities and Futures Act 2001, and since 30 June 2025 Singapore-based firms serving only overseas customers must hold a Digital Token Service Provider licence under the FSMA 2022 — a bar MAS has set deliberately high. Payments use the same PSA, while gambling is closed: only the two integrated-resort casinos (Marina Bay Sands and Resorts World Sentosa) and Singapore Pools (lottery/sports betting incl. online) are licensed; all other online gambling is prohibited and blocked.

South Korea regulates crypto and payments under the FSC/FSS and keeps gambling closed to its citizens. Crypto is two-phase: the Virtual Asset User Protection Act (VAUPA, in force 19 July 2024) governs user protection, plus VASP registration with KoFIU (ISMS certification, real-name bank accounts, travel rule) under the Specified Financial Information Act — while a second-phase Digital Asset Basic Act covering issuance, disclosure and won-pegged stablecoins has stalled into 2026 over who may issue stablecoins. Payments and e-money run under the Electronic Financial Transactions Act (FSC-licensed e-money; registered prepaid/PG businesses); gambling is prohibited for Korean nationals by the Criminal Act except narrow state channels — foreigner-only casinos (Kangwon Land the sole locals exception), Sports Toto, lottery and racing monopolies — and online gambling is illegal and offshore sites are blocked.

No crypto law in force as of May 2026; Concept Paper for regulating virtual assets presented 12 February 2026, new laws expected in 2026, FIU running a mandatory VASP survey. Gambling consolidated under the Gambling Regulatory Authority Act, No. 17 of 2025, in force from 1 December 2025, establishing the unified GRA.

Taiwan is FSC-led. There is no enacted standalone crypto statute yet — the draft Virtual Asset Service Provider Act went to the Executive Yuan in June 2025 (first regulated stablecoin H2 2026 at the earliest); VASPs operate under mandatory FSC AML registration (September 2025) under the amended Money Laundering Control Act. Payments and e-money are licensed under the Act Governing Electronic Payment Institutions 2015 (amended 2020), with NT$100m / NT$300m / NT$500m capital by activity. Gambling is criminally prohibited under Article 266 of the Criminal Code; only the Public Welfare Lottery and Taiwan Sports Lottery (both CTBC concessions) are authorised.

The Thai SEC licenses digital asset businesses under the 2018 Emergency Decree, as amended in 2025 to capture offshore operators serving Thai users. Six business categories are supervised.

Vietnam licenses crypto through a five-year MoF pilot, payments through the SBV, and gambling sector-by-sector (casinos, e-games, sports betting). Online casinos are prohibited.