Norway vs Papua New Guinea
Crypto regulation comparison
Norway
Papua New Guinea
Legal
No Regulation
Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.
Papua New Guinea has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.
Tax Type
Wealth and capital gains
Tax Type
None
Tax Rate
22% (gains) + 1.1% (wealth)
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Finanstilsynet (Financial Supervisory Authority)
Regulator
Bank of Papua New Guinea
Stablecoin Rules
No specific stablecoin regulation; general financial rules apply
Stablecoin Rules
No stablecoin regulation
Key Points
- Crypto capital gains taxed at 22% flat rate
- Crypto included in wealth tax base (~1.1% on net wealth above threshold)
- VASPs must register with Finanstilsynet and comply with AML/CFT requirements
- Norway is a major crypto mining hub due to cheap hydroelectric power
- EEA member; MiCA implementation expected through EEA Agreement adaptation
Key Points
- No specific cryptocurrency legislation
- Central bank has not issued formal crypto guidance
- Limited internet and financial infrastructure
- Minimal crypto adoption
- No licensing framework for crypto services
