Maldives has no cryptocurrency regulation. The Maldives Monetary Authority stated in October 2018 that no party has been granted permission to conduct financial transactions using cryptocurrencies or other virtual currencies in the Maldives.
| Status | Restricted |
| Risk Score | 55/100 (High Risk) |
| Region | south asia |
| Currency | MVR |
| Capital Gains (Personal) | No crypto-specific rules; individuals' taxable income under the Income Tax Act is taxed at progressive rates from 0% (up to MVR 720,000 a year) to 15% (above MVR 2,400,000), and non-residents' gains on Maldivian shares, immovable property and intangibles bear 10% capital gains withholding tax |
| Capital Gains (Corporate) | 15% CIT; capital gains of companies taxed at 15% |
| VAT on Crypto | No |
| Staking Tax | N/A |
| Airdrop Tax | N/A |
No crypto-specific tax guidance. The Income Tax Act, in force since 2020 and replacing the Business Profit Tax Act, taxes individuals at progressive rates of 0%, 5.5%, 8%, 12% and 15% and companies at 15%. Non-residents' gains on disposals of Maldivian property, shares and intangibles are subject to 10% capital gains withholding tax. GST applies to goods and services.
| Required | No |
| Regulator | MMA |
| Framework | No crypto framework; MMA public statement of 11 October 2018 (no party authorised to conduct transactions in virtual currencies) |
| Ease | very_complex |
No detailed enforcement information available
| Status | Research |
| Name | Maldives CBDC |
| Issuing Authority | Maldives Monetary Authority |
| Model | retail |
| KYC Required | Yes |
| Travel Rule | No |
| FATF Member | No |
| FATF Status | non_compliant |
| FATF Body | APG |
| Suspicious-Activity Reporting | Yes |
Status: unregulated
Status: unregulated
Status: unregulated
| Legal | No |
| Electricity Cost | $0.2/kWh |
| Renewable Energy | 20% |
| Infrastructure | poor |
Mining is restricted due to high electricity costs and limited infrastructure; Maldives has no significant crypto mining industry.
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 40/100 |
| Banking Access | restricted |
| Sanctions Program Active | No |
Risk Factors
Maldives has moderate political stability with no international sanctions. Corruption is a concern and banking access for crypto companies is limited. The small economy and infrastructure challenges pose risks for crypto business.
Maldives has no cryptocurrency regulation. The Maldives Monetary Authority stated in October 2018 that no party has been granted permission to conduct financial transactions using cryptocurrencies or other virtual currencies in the Maldives.
Maldives is classified by FATF as: non_compliant.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-09-19 · Data source: Soken Crypto Legal Map
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