North Korea vs Uganda
Crypto regulation comparison
North Korea
Uganda
Banned
Restricted
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.
Uganda restricts cryptocurrency. The Bank of Uganda issued a 2022 circular (NPSD 306) barring licensed payment service providers from facilitating crypto transactions. A 2023 High Court ruling upheld the circular, declaring cryptocurrencies illegal under the National Payment Systems Act 2020. No crypto exchanges are licensed to operate. Informal P2P crypto activity exists despite restrictions.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
No
Mining
Yes
Regulator
Central Bank of North Korea
Regulator
BOU (Bank of Uganda), CMA Uganda
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
No 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
- BOU Circular NPSD 306 (April 2022) bars licensed entities from facilitating crypto
- 2023 High Court ruled cryptocurrencies illegal under National Payment Systems Act 2020
- Growing crypto adoption, particularly for cross-border transactions
- No specific crypto taxation rules
- Financial Intelligence Authority requires VASPs to comply with AML laws