North Korea vs Myanmar
Crypto regulation comparison
North Korea
Myanmar
Banned
Banned
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.
Myanmar's Central Bank issued Notification No. 9/2020 prohibiting the sale, purchase, and exchange of unregulated digital currencies. Violations are prosecuted under the Anti-Money Laundering Law and Financial Institutions Law with penalties including imprisonment and fines. Despite the ban, underground stablecoin usage persists, particularly USDT.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
No
Regulator
Central Bank of North Korea
Regulator
Central Bank of Myanmar
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
No 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
- CBM Notification No. 9/2020 prohibits sale, purchase, and exchange of digital currencies
- Violations prosecuted under Anti-Money Laundering Law and Financial Institutions Law
- Financial institutions banned from dealing in digital currencies
- CBM is exploring a central bank digital currency (digital kyat)
- Underground stablecoin (USDT) usage persists despite ban