The other day, the guv of the Bank of Ghana, the nation’s reserve bank, stated that crypto guidelines will remain in location by the end of 2025. This follows draft standards the bank released in 2015.
By presenting a strong legal footing for crypto financiers and business, Ghana will sign up with 9 other nations on the continent that have laws in location for digital possessions.
In basic, crypto adoption is growing in Africa, especially in Sub-Saharan Africa. Grassroots adoption and retail activity make it the third-fastest-growing area for crypto.
Legislators are taking notification. Here’s a take a look at 10 nations that have actually established, or are establishing, particular legal structures:
Ghana
Johnson Asiama, guv of the Bank of Ghana, stated at the International Monetary Fund’s conference on Thursday that his nation will have the ability to provide robust crypto guidelines by the year’s end.
” That expense is on its method to parliament. Ideally before completion of December, we must have the ability to manage cryptocurrencies in Ghana,” he stated.
The guidelines are a long period of time coming. The bank very first released draft legislation in August 2024. In those standards, the bank proposed an eight-pillar structure, that included increasing registration and reporting requirements for exchanges and virtual possession provider (VASPs).
The brand-new laws intend to resolve growing interest in crypto amongst Ghanaian financiers. Some 3 million Ghanaians, or almost 9% of the nation’s population, usage crypto.
South Africa
In 2022, the Financial Sector Conduct Authority (FSCA) of South Africa formally stated crypto to be a monetary item. This brought crypto under the Financial Advisory and Intermediary Solutions Act. This indicates digital possessions are controlled with appropriate licensing programs, customer securities and user confirmations in location.
Ever Since, the FSCA has actually provided lots of licenses, and worldwide crypto companies have actually established operations there. Since Oct. 10, a collaboration in between QR payments company Scan to Pay and Bitcoin (BTC) payments business MoneyBadger enables South Africans to pay with crypto at 650,000 shops in the nation. On Wednesday, Ripple revealed a collaboration with South African bank Absa to supply crypto custody for the bank’s clients.
Related: A Bitcoiner’s guide to South Africa’s Garden Path
Legislators in South Africa are still tweaking guidelines. In August, Financing Minister Enoch Godongwana revealed a draft structure for cross-border crypto deals. He stated there are still “useful difficulties and ramifications if cryptocurrency is deemed cash.”
Mauritius
In February 2022, the island country of Mauritius passed the Virtual Possession and Preliminary Token Offering Solutions Act. According to the Mauritius International Financing Centre, the act “sets out a detailed legal structure to manage business activities of virtual possessions provider and preliminary token offerings.”
Token providers, wallets, exchanges and custodians are controlled by the Financial Solutions Commission. The act likewise developed requirements for preliminary token companies, lining up with the requirements set by the Financial Action Job Force (FATF).
Botswana
Botswana’s Virtual Assets Act No. 3 of 2022 developed a regulative structure for crypto managed by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). Under the act, VASPs like exchanges and token providers need to sign up with the NBFIRA. It likewise develops due diligence and customer defense requirements.
The reserve bank has actually mentioned that it sees “very little” danger from cryptocurrencies. However in December 2024, it stated that extra guidelines are still required.
Nigeria
In April 2025, Nigeria officially acknowledged crypto possessions for the very first time with the passage of the Financial investment and Securities Act (ISA). The ISA specified crypto as securities and put VASPs, exchange operators and other crypto companies under the scope of the Securities and Exchange Commission (SEC).
Last month, the Nigerian SEC improved its meanings for tokens into 4 classifications for regulative oversight. The firm stated its objective was “not to prevent innovation or suppress development” however to develop requirements by which it might “motivate ethical practices that eventually produce a reasonable and effective market.”
Uncertain guidelines in Nigeria, particularly the suit versus crypto exchange Binance and the arrest of Binance executive Tigran Gambaryan, left lots of in the market cautious about working there. Regulators have actually stated that they are “open for service.”
Namibia
In 2023, Namibia enacted the Virtual Assets Act (VAA). Comparable to lots of other structures, it produced standards for VASPs, consisting of licensing programs and guidance. The National Assembly stated its leading objectives were to secure customers, avoid market abuse and lower the dangers of cash laundering and illegal financing.
The Namibia Financial Institutions Supervisory Authority, which functions as the main regulator, has a two-step licensing design (very first provisionary, then complete license). Applications are likewise assessed by the reserve bank.
Tanzania
The Tanzanian federal government passed the Financing Act of 2024, which presented 3% tax on payments produced digital possession exchanges or transfers to locals. The act broadly specifies cryptocurrencies, tokens and non-fungible tokens (NFTs) as “digital possessions” and needs that platforms be signed up as holding representatives with the tax authority.
Little development has actually been made given that, however it shows a shift from the federal government’s previous hard-line method, which had actually prohibited crypto. In 2023, the Bank of Tanzania revealed it would begin examining a reserve bank digital currency however would take a “phased, mindful and risk-based method.”
Seychelles
In August 2024, the Seychelles National Assembly passed the Virtual Possession Company Act (VASPA). It entered into impact on Sept. 1 of that year.
The act needs VASPs to get a license from the Financial Solutions Authority. Together with the typical Anti-Money Laundering and Know Your Client requirements, it likewise needs NFT and preliminary coin offering promoters to sign up with the authorities.
The nation’s status as a fairly lax monetary center has actually made it a magnet for financial investment and registrations. A June report from Tech in Africa specifies that the nation drew in 31% of all blockchain financing over the in 2015.
Kenya
On Oct. 13, the Kenyan parliament passed the Virtual Possession Company Expense controling digital possessions and cryptocurrencies. Treasury Cabinet Secretary John Mbadi revealed the draft legislation in January, stating the federal government was “devoted to producing the essential legal and regulative structure” for cryptocurrencies.
The act will develop the reserve bank as the licensing authority for stablecoin and token providers, while the Capital Markets Authority will manage and certify exchanges and other trading platforms.
Kuria Kimani, chairman of the financing committee in the nationwide assembly, stated, “We are hoping that Kenya can be now the entrance into Africa … The majority of the youths in between 18 and 35 years of age are now utilizing virtual possessions for trading, settling payments and as a method of financial investment or working.”
Rwanda
In March 2025, the Capital Markets Authority (CMA) and the National Bank of Rwanda collectively presented a draft law controling crypto and VASPs. The law would develop licenses for VASPs however likewise represents a more mindful method than some other nations. The law would prohibit crypto mining, crypto ATMs and blending services.
Regional regulators were worried about the prospective abuse of crypto, pointing out assistance from the FATF. Carine Twiringiyimana, supervisor of licensing and approvals at CMA, informed regional media, “An essential issue … is that virtual possessions can be utilized as a channel for cash laundering. That’s why these guidelines are being presented to reduce such dangers while likewise offering clear assistance to the general public and virtual possession provider.”
Source: Coin Telegraph.
