North Korea vs Marshall Islands
Crypto regulation comparison
North Korea
Marshall Islands
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.
The Marshall Islands passed the Sovereign Currency Act in 2018 to create the SOV, a blockchain-based national digital currency. No income or capital gains tax.
Tax Type
None
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of North Korea
Regulator
Banking Commission of the Marshall Islands
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
No specific stablecoin regulation
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
- Sovereign Currency Act (2018) created SOV digital currency
- No income or capital gains tax
- Has been a popular jurisdiction for DAO registration
- Banking Commission provides oversight
- Limited domestic crypto adoption