North Macedonia vs Pakistan
Crypto regulation comparison
North Macedonia
Pakistan
Legal
Restricted
North Macedonia has no dedicated cryptocurrency legislation. Crypto is not prohibited and operates in a regulatory gray area. The general flat 10% income tax rate may apply to crypto profits. The government is working toward EU MiCA alignment and plans to license crypto exchanges by 2025-2026.
Pakistan has a hostile regulatory environment for cryptocurrency. The State Bank of Pakistan has prohibited financial institutions from facilitating crypto transactions, and the government has considered outright bans. Despite this, Pakistan has high informal crypto adoption, ranking among the top countries for P2P crypto volume. The SECP has explored blockchain regulation but no licensing framework exists for exchanges.
Tax Type
Income
Tax Type
None
Tax Rate
10%
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
National Bank of the Republic of North Macedonia
Regulator
SBP (State Bank of Pakistan), SECP
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No regulation; SBP has not authorized any crypto activities
Key Points
- No dedicated cryptocurrency legislation
- Central bank has acknowledged crypto without banning it
- General flat 10% personal income tax rate may apply to crypto profits
- Government working toward licensing crypto exchanges by 2025-2026
- Working toward EU candidacy and alignment with MiCA regulation
Key Points
- SBP prohibits banks and financial institutions from processing crypto transactions
- No licensing framework for crypto exchanges; operating informally is risky
- High P2P crypto adoption despite regulatory hostility
- Government has considered formal banning legislation multiple times
- SECP has explored digital asset regulation but no framework enacted