Polymarket is accessible in Brunei — the platform does not geoblock Bruneian IP addresses. Brunei’s crypto landscape is small but notable for two reasons: the country has no personal income tax, which simplifies the tax side considerably, and its central bank takes a cautious, deliberate approach to digital assets as it builds out a licensing framework. Here’s what Bruneian users need to know about using Polymarket.
Current Status: Accessible
Brunei is not on Polymarket’s geoblocked countries list. The platform is fully accessible from Bruneian IP addresses. Bruneian users can sign up, deposit, and trade on all available markets.
Crypto adoption in Brunei is modest — estimated at under 1% of the population as of 2026 — reflecting a small, affluent, and tightly supervised financial system. Interest is driven more by diversification and global market access than by inflation concerns, and the oil-and-gas wealth that underpins the economy shapes a conservative attitude toward speculative assets. Still, there is a working route into global crypto via major exchanges, and the absence of personal income tax removes a common barrier to reporting and using those gains.
The legal landscape for prediction markets in Brunei sits in an unregulated grey area. The central bank has warned the public about digital-currency risks but has not banned trading, and decentralized platforms like Polymarket fall outside the current regulatory framework.
The Legal Landscape
The Regulator: BDCB (Brunei Darussalam Central Bank)
Brunei’s central bank — known as the Brunei Darussalam Central Bank (BDCB), previously the Autoriti Monetari Brunei Darussalam (AMBD) — oversees the country’s financial system. BDCB has made clear that cryptocurrencies are not legal tender in Brunei and are not regulated as currency. It does not supervise crypto assets the way it supervises traditional financial instruments.
BDCB has publicly acknowledged the rapid global growth of cryptocurrencies and heightened public interest, and has said it is developing an appropriate legal and regulatory framework for the licensing and supervision of cryptocurrencies and related activities.
The Developing VASP Framework
Brunei is working toward a Virtual Asset Service Provider (VASP) licensing framework, aligned with Financial Action Task Force (FATF) standards. The country is an active member of the Asia/Pacific Group on Money Laundering (APG) and underwent a Mutual Evaluation in November 2022. A 2021 Virtual Asset risk assessment has been endorsed, and VASP obligations are anticipated to cover exchanges, wallet providers, and token issuers.
Amendments to Brunei’s Money Changing and Remittance Business Act have already introduced provisions requiring oversight of virtual assets. Until the full licensing framework is finalized, crypto activity in Brunei operates without a dedicated statute.
Crypto Mining and AML
Cryptocurrency mining sits in a grey zone in Brunei — neither expressly prohibited nor supported by law. BDCB has said it will collaborate with other government agencies on mining-related matters given the high electricity requirements.
AML compliance is a priority: the BDCB Financial Intelligence Unit (FIU) is the main contact for money-laundering matters. Individual crypto users are not directly subject to VASP reporting requirements, but exchanges serving Brunei residents will face customer due diligence, transaction monitoring, and record-keeping obligations as the framework matures.
Prediction Markets
There is no dedicated prediction-market law in Brunei, and online gambling activity — including via decentralized platforms — is not specifically addressed by current statutes. In the absence of a specific prohibition, platforms like Polymarket fall into an unregulated gap. This is an evolving area, and the position may change as Brunei’s crypto framework develops.
How to Deposit from Brunei
Brunei has no large local crypto exchange, so most users rely on global platforms that accept BND (or SGD, given the Brunei–Singapore currency interchangeability agreement) or card payments.
Step 1: Buy USDC on a Global Exchange
| Exchange | Funding Rails | Card Payments | Notes |
|---|---|---|---|
| Binance | Bank transfer, P2P | Yes | World’s largest exchange; strong liquidity |
| OKX | Bank transfer, P2P | Yes | Low spot fees |
| Kraken | Bank transfer | Yes | Advanced trading, strong track record |
| Crypto.com | Bank transfer | Yes | Beginner-friendly app |
Deposit Methods Explained
Bank transfer: Most major exchanges accept bank transfers, which is a reliable way to fund an account in BND. Local banks may set their own policies toward crypto, so confirm your bank’s position before initiating large transfers.
Debit/credit card: Card purchases are often the fastest way to buy crypto. Note that some Brunei banks — such as BIBD (Bank Islam Brunei Darussalam) — have been reported to restrict or block card purchases on crypto platforms, so check whether your card issuer allows crypto transactions. If card purchases fail, a bank transfer or P2P route is a practical alternative.
P2P trading: Binance and OKX offer peer-to-peer (P2P) markets, which can be useful in a small market where card rails are unreliable. P2P lets you buy USDC directly from other users using bank transfer.
Step 2: Transfer USDC to Polymarket
- Go to Deposit on Polymarket
- Select Use Crypto and copy your deposit address
- Send USDC from your exchange to the Polymarket address
- Choose Polygon for the lowest fees ($3 minimum, arrives in seconds)
For the full walkthrough, see our How to Deposit on Polymarket guide.
Tax Implications
Brunei’s tax regime is one of the simplest in the world for crypto users because the country imposes no personal income tax.
No Personal Income Tax
Brunei has no personal income tax on residents or citizens. This means profits from buying and selling crypto — and gains from prediction-market trading — are generally not taxed in Brunei. There is no capital gains tax and no value-added tax for individuals to worry about on crypto transactions.
This is in sharp contrast to most jurisdictions. For most Bruneian users, tax filing obligations simply do not apply to crypto gains.
Reporting and Record-Keeping
Even without a tax obligation, keeping records is good practice:
- Maintain records of all deposits, trades, withdrawals, and wallet addresses
- Keep bank and card receipts and any source-of-funds documentation
- Because crypto platforms are not locally regulated, orderly records help if banks or regulators ever ask about a source of funds
What You Don’t Pay
- No personal income tax on any earnings, including crypto profits
- No capital gains tax
- No VAT/GST on crypto-to-crypto transactions for individuals
For a country-by-country guide, see our full tax overview.
Getting Started
If you’re in Brunei and want to start trading on Polymarket:
- Sign up for Polymarket — under 2 minutes, no KYC required
- Buy USDC on Binance or OKX via bank transfer or card
- Deposit on Polymarket — transfer USDC via Polygon
- Place your first trade — start with a small amount
- Use limit orders to avoid taker fees — only taker orders pay fees on Polymarket
Related Guides
- How to Sign Up for Polymarket — Create your account
- How to Deposit on Polymarket — Full deposit guide
- How to Trade on Polymarket — Market orders, limit orders, and tips
- Polymarket Fees Explained — Fee breakdown by category