Tuvalu Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Key Regulator(s)

Tuvalu Financial Services Authority, Ministry of Finance and Economic Development

Primary Legislation

Tuvalu's Money Laundering and Proceeds of Crime Act 2017 and the Tuvalu Financia, Tuvalu Financial Services Authority Act 2010: Establishes the TFSA and its power, Tuvalu Financial Intelligence Unit Act 2017: Governs the FIU's operations and ma, Companies Act 1991 (as amended): For domestic companies., International Companies Act 1993 (as amended): For offshore companies., Anti-Money Laundering and Countering the Financing of Terrorism Act: Crucial for, Financial Action Task Force (FATF) Guidance: While not Tuvaluan law, Tuvalu is e, Money Laundering and Proceeds of Crime Act 2007 (as amended), Companies Act 2008

Travel Rule

Not adopted

Tax Reporting

Tuvalu currently does not levy a separate capital gains tax.. Gains derived from the sale or disposal of assets (including virtual assets) are generally not subject to a specific capital gains tax.. However, if an individual or business regularly trades cryptocurrency with the intention of making a profit, or if crypto activities constitute a trade or business, the profits derived could be treated as ordinary income and subject to income tax. The distinction between a capital gain (which is untaxed) and income from a business (which is taxed) would depend on factors like frequency, volume, and intent.. Mining, Staking, Lending Rewards, Airdrops: If these activities are carried out regularly or with the intention of making a profit, the value of the cryptocurrency received (valued at the time of receipt) would likely be considered assessable income under the Income Tax Act.. Wages/Salaries paid in Crypto: If an individual receives salary or wages in cryptocurrency, the value of the crypto at the time of receipt would be treated as taxable employment income, subject to the standard income tax rates.

Key Facts

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