North Korea vs Lithuania
Crypto regulation comparison
North Korea
Lithuania
Banned
Legal
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.
Cryptocurrency is legal and regulated in Lithuania. The Bank of Lithuania oversees VASPs under AML regulations and has been an early mover in crypto regulation within the EU. Lithuania attracted a large number of VASP registrations due to initially favorable conditions, though it tightened requirements significantly in 2022-2023. The MiCA framework now applies.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
15%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of North Korea
Regulator
Bank of Lithuania (Lietuvos Bankas)
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
Regulated under EU MiCA framework
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
Key Points
- VASPs must register with the Bank of Lithuania under AML/CFT law
- Capital gains from crypto taxed at 15% personal income tax rate
- Lithuania became a major EU hub for crypto companies; over 500 VASPs registered by 2022
- Tightened VASP requirements in 2022-2023, including local substance and capital requirements
- MiCA transition underway from December 2024