Crypto Regulation in Maldives

Restricted

Tax Information

Capital Gains (Personal)
0% - no personal income tax on capital gains
Capital Gains (Corporate)
15% CIT
VAT on Crypto
No
Staking Tax
N/A
Airdrop Tax
N/A
Mining Tax
--

Licensing & Registration

License Required
No
Regulator
MMA (Maldives Monetary Authority)
Framework
No crypto framework; MMA has cautioned public about crypto risks
License Types
--
Estimated Cost (USD)
N/A
Timeline
N/A months
Ease of Licensing
Very Complex

AML / KYC

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

Mining

Mining Legal
Yes
Status
Restricted
Electricity Cost ($/kWh)
$0.2
Renewable Energy
20%
Climate
Tropical
Infrastructure
Moderate
Tax on Mining Income
15% CIT

DeFi, Stablecoins & NFTs

DeFi: unregulatedStablecoins: unregulatedNFTs: unregulatedCBDC: none

Soken Services

Legal Opinion
Available | $5,000 - $20,000 | 14 days
Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SWIFT
Card Payments
Visa, Mastercard

Sources

Maldives Monetary Authority
low

Frequently Asked Questions

Is crypto legal in Maldives?
Cryptocurrency is currently classified as "Restricted" in Maldives.
What is the crypto tax rate in Maldives?
In Maldives, the personal capital gains tax on crypto is 0% - no personal income tax on capital gains, and the corporate tax rate is 15% CIT.
Do I need a crypto license in Maldives?
No, Maldives does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in Maldives?
Yes, crypto mining is legal in Maldives. Electricity costs approximately $0.2/kWh. Mining income is taxed at: 15% CIT.
What are the AML/KYC requirements for crypto in Maldives?
Yes, crypto businesses in Maldives must comply with KYC (Know Your Customer) requirements.