Crypto Regulation in Papua New Guinea

Unknown

Tax Information

Capital Gains (Personal)
0% - no CGT
Capital Gains (Corporate)
30% CIT
VAT on Crypto
No
Staking Tax
Unclear
Airdrop Tax
Unclear
Mining Tax
--

Licensing & Registration

License Required
No
Regulator
BPNG (Bank of Papua New Guinea)
Framework
No crypto-specific legislation
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
Unknown
Electricity Cost ($/kWh)
$0.18
Renewable Energy
20%
Climate
Tropical
Infrastructure
Moderate
Tax on Mining Income
30% CIT
Notes
Mining legal status is unclear. Proceed with caution and seek legal advice.

DeFi, Stablecoins & NFTs

DeFi: unregulatedStablecoins: unregulatedNFTs: unregulatedCBDC: none

Soken Services

Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SWIFT
Card Payments
Visa, Mastercard

Sources

Bank of Papua New Guinea
low

Frequently Asked Questions

Is crypto legal in Papua New Guinea?
Cryptocurrency is currently classified as "Unknown" in Papua New Guinea.
What is the crypto tax rate in Papua New Guinea?
In Papua New Guinea, the personal capital gains tax on crypto is 0% - no CGT, and the corporate tax rate is 30% CIT.
Do I need a crypto license in Papua New Guinea?
No, Papua New Guinea does not currently require a specific crypto license, though other financial regulations may apply.
Is crypto mining legal in Papua New Guinea?
No, crypto mining is currently banned or illegal in Papua New Guinea. Mining legal status is unclear. Proceed with caution and seek legal advice.
What are the AML/KYC requirements for crypto in Papua New Guinea?
Papua New Guinea does not currently mandate KYC for crypto businesses, though this may change.