North Korea

Cryptocurrency use in North Korea is explicitly banned for private citizens. This prohibition is not based on domestic law, but primarily stems from international UN Security Council sanctions, which aim to prevent the country from financing its weapons programs through illicit crypto activities, including theft and laundering. In practice, this means any private engagement with cryptocurrencies—whether holding, trading, or engaging in related activities—is effectively impossible and illegal under international scrutiny. While a General Bureau of Taxation (GBT) is presumed to exist in North Korea, no official information or public documentation is available regarding its functions or a legal framework for crypto taxation. Given the outright ban on cryptocurrencies for private use, there is no domestic tax system or governing body that administers crypto-specific taxes for individuals. For private citizens, there are no applicable individual tax rates, capital gains taxes, or income taxes related to cryptocurrency in North Korea. This is because all crypto transactions are prohibited under the international sanctions. Consequently, buying, selling, or swapping crypto, including converting crypto to fiat currency or engaging in crypto-to-crypto trades, are not recognized as taxable events for private individuals as such activities are entirely banned. There are no exemptions, thresholds, or allowances for crypto, nor are there any holding period benefits. No Value Added Tax (VAT) system applies to cryptocurrencies. All forms of cryptocurrency engagement, including staking, mining, decentralized finance (DeFi) activities, and non-fungible tokens (NFTs), are banned for private citizens in North Korea. Therefore, there are no specific tax treatments or regulations for these activities, they are simply prohibited.