Situation with the Rule of Law *
Iceland has high indicators of the rule of law. The conditions of the legal regulation of blockchain and cryptocurrencies are neutral, and since the values of the sub-criterion of the rule of law are high (0.77), the amount of the difference between weighted (multiplied by Rule of Law Index score) and unweighted assessments are not significant. This indicates low risks associated with the general conditions of compliance with legal safeguards in Iceland.
* Iceland is not covered by the World Justice Project
. The calculation of the Rule of Law Index i
s based on the average for the group of countries with similar environment for the promotion of democracy and rule of law in the Freedom in the World index (Freedom House). The Country Aggregate Score for Iceland is 95 in the Freedom in the World index, therefore, countries with similar scores (Country Aggregate Score: 94-97). Average Rule of Law Index (World Justice Project
) for this group is 0.77.