Asset × Country · Legal Status

Trade Pudgy Penguins in Kuwait

STATUSBanned REGULATORMoCI CLASSCrypto

Crypto trading is banned in Kuwait, so no trading route for Pudgy Penguins is offered to residents.

Pudgy Penguins · PENGU-PERPCrypto · Kuwait

Price · 24h—

Max leverage5x

Funding · APR—

In KuwaitBanned

Canborsa fee0.07% per side

Pudgy Penguins in Kuwait · at a glance

Banned

legal statusPudgy Penguins exposure from Kuwait

max leveragePudgy Penguins on Canborsa

0.07%

0.14% round-tripCanborsa fee per side

funding intervalSettled while a position is open

What the law actually says

Is Pudgy Penguins trading legal in Kuwait?

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'.

What the contract is

The contract itself does not change by geography: a PENGU perpetual settles in USDC everywhere.

Regulator — Kuwait

RegulatorMoCI

Websitewww.cbk.gov.kw

CryptoBanned

Funding · local rails

How to fund a trade from Kuwait

The routes traders use to reach USDC before a deposit.

Rails · deposit routes

Rail

Status

Note

Payment or transfer through a Kuwaiti financial institution (KWD)

BLOCKED

Blocked by a 2023 ministerial circular banning virtual-currency payment use and crypto investment services.

No trading route from Kuwait

The legal status above rules out a trading route for Pudgy Penguins exposure from Kuwait.

Tax note — Kuwait

Individual capital gains tax rates in Kuwait range from 0% to 15%, and income tax rates range from 0% to 30%.

Frequently asked questions

What is the legal status of Pudgy Penguins trading in Kuwait?›

Trading PENGU from Kuwait: banned.

Which rule bans crypto trading in Kuwait?›

For Pudgy Penguins 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.

Which regulator oversees Pudgy Penguins trading in Kuwait?›

Ministry of Commerce and Industry (MoCI) issued the prohibition circular and supervises non-financial businesses and professions; instruments of the Central Bank of Kuwait (CBK) and Capital Markets Authority (CMA Kuwait) are exempt.

What are the tax rules for trading Pudgy Penguins from Kuwait?›

Individual capital gains tax rates in Kuwait range from 0% to 15%, and income tax rates range from 0% to 30%.

Is ID verification required to trade Pudgy Penguins from Kuwait?›

For Pudgy Penguins traders in Kuwait: There is no local standard, because there is no local venue that could set one.

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