Georgia vs North Korea
Crypto regulation comparison
Georgia
North Korea
Legal
Banned
Georgia is one of the most crypto-friendly countries globally. There is no capital gains tax for individuals on cryptocurrency, and the country has a significant crypto mining industry due to low electricity costs. The National Bank has taken a cautious but permissive approach, issuing guidance rather than strict regulation.
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
No tax
Tax Type
None
Tax Rate
0% (individuals)
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
National Bank of Georgia (NBG)
Regulator
Central Bank of North Korea
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
Not applicable — crypto banned
Key Points
- No capital gains tax on crypto for individuals
- Businesses dealing in crypto are taxed under standard corporate tax rules (15% CIT)
- Georgia is a major crypto mining hub due to cheap hydroelectric power
- NBG does not recognize crypto as legal tender but has not prohibited it
- The Free Industrial Zone offers additional tax advantages for crypto businesses
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