Cameroon vs North Korea
Crypto regulation comparison
Cameroon
North Korea
Restricted
Banned
Cameroon has no specific national cryptocurrency legislation. As a CEMAC member, COBAC issued a 2022 directive banning financial institutions from facilitating crypto transactions. BEAC opposes crypto regulation and does not recognize cryptocurrencies. Individual ownership is not explicitly banned but access via formal banking is restricted.
North Korea does not allow civilian cryptocurrency use. The regime has been accused by the UN and US of using state-sponsored hacking to steal cryptocurrency to fund weapons programs.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
Yes
Mining
No
Regulator
BEAC (Bank of Central African States), COBAC
Regulator
Central Bank of North Korea
Stablecoin Rules
Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules
Not applicable — crypto banned
Key Points
- No specific national cryptocurrency legislation
- COBAC 2022 directive bans banks and payment providers from facilitating crypto transactions
- BEAC firmly opposes cryptocurrency regulation in the CEMAC region
- Part of the CEMAC monetary zone with the CFA franc
- Nearly 900,000 crypto users in Cameroon despite restrictive banking environment
Key Points
- No civilian cryptocurrency use permitted
- State-sponsored crypto theft alleged by UN and US
- Lazarus Group linked to major crypto exchange hacks
- International sanctions restrict all financial activities
- Cryptocurrency used by state actors, not civilians