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Norway vs Pakistan

Crypto regulation comparison

← Back to map | Norway | Pakistan
Norway

Norway

Pakistan

Pakistan

Legal
Restricted

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.

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 Wealth and capital gains
Tax Type None
Tax Rate 22% (gains) + 1.1% (wealth)
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator Finanstilsynet (Financial Supervisory Authority)
Regulator SBP (State Bank of Pakistan), SECP
Stablecoin Rules No specific stablecoin regulation; general financial rules apply
Stablecoin Rules No regulation; SBP has not authorized any crypto activities
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
  • 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
Sources
Sources