North Korea vs Malaysia
Crypto regulation comparison
North Korea
Malaysia
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 Malaysia. The Securities Commission oversees digital asset exchanges (DAX) and initial exchange offerings under the Capital Markets and Services (Prescription of Securities) Order 2019. Only SC-approved exchanges can operate. Malaysia does not impose capital gains tax on crypto for individuals, though frequent trading may be classified as business income.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of North Korea
Regulator
SC (Securities Commission Malaysia), BNM (Bank Negara Malaysia)
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
Digital assets on approved exchanges only; stablecoins not separately regulated
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
- Digital asset exchanges must be registered and approved by the Securities Commission
- Only approved tokens can be listed on registered exchanges (e.g., BTC, ETH, XRP on approved list)
- No capital gains tax for individuals; frequent trading may be treated as business income
- BNM regulates crypto for AML/CFT purposes under the Anti-Money Laundering Act
- IEOs must be conducted through SC-approved platforms