Crypto Regulation in Cook Islands

Unknown

Tax Information

Capital Gains (Personal)
0% - no income tax for individuals
Capital Gains (Corporate)
20% CIT
VAT on Crypto
No
Staking Tax
N/A
Airdrop Tax
N/A
Mining Tax
--

Licensing & Registration

License Required
No
Regulator
FSC (Financial Supervisory Commission of the Cook Islands)
Framework
No crypto-specific legislation; NZD used alongside local currency
License Types
--
Estimated Cost (USD)
N/A
Timeline
N/A months
Ease of Licensing
Very Complex

AML / KYC

KYC Required
No
Travel Rule
No
FATF Member
--
FATF Status
--
Suspicious Activity Reporting
--

Mining

Mining Legal
No
Status
Unknown
Electricity Cost ($/kWh)
$0.3
Renewable Energy
20%
Climate
Tropical
Infrastructure
Poor
Tax on Mining Income
20% CIT
Notes
Mining legal status is unclear. Proceed with caution and seek legal advice.

DeFi, Stablecoins & NFTs

DeFi: unregulatedStablecoins: unregulatedNFTs: unregulatedCBDC: none

Soken Services

Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SWIFT
Card Payments
Visa, Mastercard

Sources

FSC Cook Islands
low

Frequently Asked Questions

Is crypto legal in Cook Islands?
Cryptocurrency is currently classified as "Unknown" in Cook Islands.
What is the crypto tax rate in Cook Islands?
In Cook Islands, the personal capital gains tax on crypto is 0% - no income tax for individuals, and the corporate tax rate is 20% CIT.
Do I need a crypto license in Cook Islands?
No, Cook Islands does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in Cook Islands?
No, crypto mining is currently banned or illegal in Cook Islands. Mining legal status is unclear. Proceed with caution and seek legal advice.
What are the AML/KYC requirements for crypto in Cook Islands?
Cook Islands does not currently mandate KYC for crypto businesses, though this may change.