Maldives
The historic no-income-tax status ended in 2020; a sole proprietor's payouts are individual business income taxed 0% up to MVR 720,000 then 5.5-15% (a smaller trader may pay 0%, but the system is not zero-tax). Crypto is unregulated, making legal conversion the dominant risk.
Self-employment / business income of a sole proprietor under the Income Tax Act 25/2019, on the individual progressive schedule; NOT capital gains.
Progressive 0-15% (exempt up to MVR 720,000/yr; then 5.5, 8, 12, 15% above MVR 2.4M).
No broad social-security payroll tax; the pension scheme is mandatory only for employees and voluntary for the self-employed.
Register with MIRA if average monthly gross revenue exceeds MVR 40,000 (file within 60 days, keep records 5 years), even though tax is only owed above MVR 720,000.
Restricted/unregulated: the MMA has authorized no crypto exchanges; no crypto-specific tax, so the bottleneck is the lack of a legal USDC-to-MVR channel.