North Korea vs Venezuela
Crypto regulation comparison
North Korea
Venezuela
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.
Venezuela has a unique crypto history. The government launched the Petro (PTR) state cryptocurrency in 2018, backed by oil reserves, though it was widely considered a failure and discontinued. SUNACRIP regulates crypto activities and has licensed mining operations. Venezuelans have high crypto adoption due to hyperinflation, with USDT widely used as a de facto currency. Crypto mining requires a SUNACRIP license.
Tax Type
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
Up to 34%
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of North Korea
Regulator
SUNACRIP (Superintendencia Nacional de Criptoactivos)
Stablecoin Rules
Not applicable — crypto banned
Stablecoin Rules
Government launched Petro (PTR) state crypto (discontinued); SUNACRIP regulated stablecoins
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
- SUNACRIP regulates crypto exchanges, mining, and service providers
- Government-backed Petro cryptocurrency launched in 2018, largely discontinued
- Crypto mining requires SUNACRIP license and registration
- Very high crypto adoption driven by hyperinflation; USDT widely used
- Income from crypto subject to progressive tax rates up to 34%