North Korea

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No legal crypto framework; UN sanctions monitors attribute large crypto thefts to state-linked hackers.

There is no dedicated crypto regime to follow in North Korea yet. We keep it on the map and will open a full rulebook when that changes.

Nearby markets at a glance

How the markets Four Pillars tracks in full across East Asia stand on the questions people ask about North Korea, each linked to its full rulebook.

Market	Exchanges	Stablecoins	Tokenisation	Retail	Tax
South KoreaA giant retail crypto market with user protection in force, still waiting on won stablecoins, corporate access and its first crypto tax.	Comprehensive	Developing	Developing	Comprehensive	Developing
JapanAsia's first licensed crypto market is moving crypto into securities law, with insider-trading rules and a flat 20% tax to follow.	Comprehensive	Comprehensive	Comprehensive	Comprehensive	Comprehensive
ChinaCrypto trading, mining, stablecoins and onshore RWA tokenisation are all banned; the state backs an interest-bearing e-CNY instead.	Prohibited	Prohibited	Restricted	Prohibited	Restricted
Hong KongAsia's most complete licensing stack: 13 licensed exchanges, a stablecoin law with two issuers, and dealing and custody rules still pending.	Comprehensive	Comprehensive	Comprehensive	Comprehensive	Partial
TaiwanEleven AML-registered VASPs today; the Virtual Asset Service Act of July 2026 will bring full licensing and stablecoin permits.	Partial	Developing	Partial	Partial	Partial
MongoliaAn early FATF-driven VASP law: 12 exchanges are registered with the FRC, and it is now pushing tugrik P2P trading onto them.	Comprehensive	Developing	Partial	Comprehensive	Developing