Crypto Regulation in North Korea

Banned

Tax Information

Capital Gains (Personal)
N/A
Capital Gains (Corporate)
N/A
VAT on Crypto
No
Staking Tax
N/A
Airdrop Tax
N/A
Mining Tax
--

Licensing & Registration

License Required
No
Regulator
N/A (N/A - sanctioned territory)
Framework
Comprehensive international sanctions; crypto activity state-directed for sanctions evasion
License Types
--
Estimated Cost (USD)
N/A
Timeline
N/A months
Ease of Licensing
Very Complex

AML / KYC

KYC Required
No
Travel Rule
No
FATF Member
--
FATF Status
--
Suspicious Activity Reporting
--

Mining

Mining Legal
No
Status
Banned
Electricity Cost ($/kWh)
$0.04
Renewable Energy
20%
Climate
Temperate
Infrastructure
Poor
Tax on Mining Income
N/A
Notes
Crypto mining is explicitly prohibited or effectively banned in this jurisdiction.

DeFi, Stablecoins & NFTs

DeFi: bannedStablecoins: bannedNFTs: bannedCBDC: none

Soken Services

Legal Opinion
Available | $8,000 - $25,000 | 14 days
Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SWIFT

Sources

UN Panel of Experts Reports
high

Frequently Asked Questions

Is crypto legal in North Korea?
Cryptocurrency is currently classified as "Banned" in North Korea.
What is the crypto tax rate in North Korea?
In North Korea, the personal capital gains tax on crypto is N/A, and the corporate tax rate is N/A.
Do I need a crypto license in North Korea?
No, North Korea does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in North Korea?
No, crypto mining is currently banned or illegal in North Korea. Crypto mining is explicitly prohibited or effectively banned in this jurisdiction.
What are the AML/KYC requirements for crypto in North Korea?
North Korea does not currently mandate KYC for crypto businesses, though this may change.