Busque si las cryptomonedas son ilegales en Islandia y no encontre nada que lo confirme. Lo que si encontre es este post en reddit que dice que solo el comprar crypto con fiat, es lo que es ilegal. Tener, comprar, e intercambiar crypto esta bien. Nada concreto en realidad como quiera, si lo estoy entendiendo bien.

http://www.reddit.com/r/Bitcoin/comments/1t8zf3/bitcoin_trading_illegal_in_iceland_according_to/

Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded.