Which countries don't tax crypto?

Crypto-friendly jurisdictions

How leading jurisdictions treat cryptocurrency for individuals:

• United Arab Emirates — exempt (no personal income or capital gains tax).
• Hong Kong — exempt; no capital gains tax applies to crypto held as an investment.
• Switzerland — private crypto capital gains are exempt for non-professional investors.
• Cayman Islands, Bermuda, The Bahamas — exempt (no income or capital gains tax).
• Singapore — no capital gains tax, so investment crypto is untaxed; gains can be taxed as income if trading is run as a business.

Where crypto is taxed

Many large economies do tax crypto:

• United Kingdom and Portugal — taxed as capital gains.
• United States — taxed as capital gains (up to 20% long-term).
• Germany — taxed as income, though private holdings sold after a year can qualify for relief.

Treatment hinges on whether holdings are investment (capital) or trading (income), and rules continue to evolve. Confirm current local guidance before acting.

Data basis: Government tax authority data via taxesmap.app, as of 2026