North Korea vs El Salvador
Crypto regulation comparison
North Korea
El Salvador
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.
El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.
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
BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
USD is the primary currency; Bitcoin-specific legislation in place
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
- First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
- Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
- January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
- No capital gains tax on Bitcoin transactions for individuals
- Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds