North Korea vs Mauritius
Crypto regulation comparison
North Korea
Mauritius
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.
Mauritius has developed a regulatory framework for virtual assets through the Financial Services Commission. The Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act) provides licensing for VASPs. Mauritius positions itself as a fintech-friendly jurisdiction in Africa with a flat 15% income tax rate applicable to crypto income.
Tax Type
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
15%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of North Korea
Regulator
FSC (Financial Services Commission)
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
Virtual assets regulated under FSC 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
- VAITOS Act 2021 provides comprehensive licensing for VASPs
- FSC issues Class M (custodian), Class O (exchange), Class R (advisory) licenses
- Flat 15% income tax rate applies to crypto income
- No separate capital gains tax; gains may be treated as income
- Mauritius is a member of FATF and complies with international AML standards