Kuwait is one of the few countries we cover where spot and derivatives give the same answer, because the prohibition is written at the level of the asset class. Ministerial Circular No. 1 of 2023, issued on 17 July 2023 by the Minister of Commerce and Industry to all financial institutions and designated non-financial businesses and professions, states an 'absolute prohibition of using virtual assets as a payment instrument/means or recognizing them as a non-centralized currency in the State of Kuwait', prohibits dealing in virtual assets 'as a means of investment' and requires institutions to refrain from providing that service to any customer, prohibits issuing any virtual-asset-services licence to any natural or legal person in Kuwait — noting that none has ever been issued — and imposes an 'absolute prohibition of all virtual assets/currencies mining activities'.
The contract itself does not change by geography: a PENDLE perpetual settles in USDC everywhere.
The legal status above rules out a trading route for Pendle exposure from Kuwait.
Individual capital gains tax rates in Kuwait range from 0% to 15%, and income tax rates range from 0% to 30%.
Trading Pendle from Kuwait: banned.
For Pendle traders in Kuwait: Kuwait's Ministerial Circular No. 1 of 2023 bans dealing in virtual assets as an investment, issuing any virtual-asset licence and mining, enforced under Law No. 106 of 2013, and the ban covers leveraged crypto derivatives too.
For Kuwait residents trading Pendle: Individual capital gains tax rates in Kuwait range from 0% to 15%, and income tax rates range from 0% to 30%.
There is no local standard, because there is no local venue that could set one.
Perpetual markets for stocks, gold, indices and pre-IPO names — settled on-chain, no wallet-to-exchange transfers.
