Countries across Africa approve new crypto laws as adoption grows

Yesterday, the politician of the Bank of Ghana, the country’s cardinal bank, said that crypto regulations volition beryllium successful spot by the extremity of 2025. This follows draught guidelines the slope published past year.

By introducing a beardown ineligible footing for crypto investors and companies, Ghana volition articulation 9 different countries connected the continent that person laws successful spot for integer assets.

In general, crypto adoption is increasing successful Africa, peculiarly successful Sub-Saharan Africa. Grassroots adoption and retail enactment make it the third-fastest-growing portion for crypto.

Lawmakers are taking notice. Here’s a look astatine 10 countries that person developed, oregon are developing, circumstantial ineligible frameworks:

Ghana

Johnson Asiama, politician of the Bank of Ghana, said astatine the International Monetary Fund’s gathering connected Thursday that his state volition beryllium capable to deliver robust crypto regulations by the year’s end.

“That measure is connected its mode to parliament. Hopefully earlier the extremity of December, we should beryllium capable to modulate cryptocurrencies successful Ghana,” helium said.

The regulations are a agelong clip coming. The slope archetypal published draught legislation successful August 2024. In those guidelines, the slope projected an eight-pillar framework, which included expanding registration and reporting requirements for exchanges and virtual plus work providers (VASPs).

The caller laws purpose to code increasing involvement successful crypto among Ghanaian investors. Some 3 cardinal Ghanaians, oregon astir 9% of the country’s population, use crypto.

Asiama (right) spoke with the IMF’s Africa Department director, Abebe Salassie (left). Source: IMF

South Africa

In 2022, the Financial Sector Conduct Authority (FSCA) of South Africa officially declared crypto to beryllium a fiscal product. This brought crypto nether the Financial Advisory and Intermediary Services Act. This means integer assets are regulated with due licensing regimes, user protections and idiosyncratic verifications successful place.

Since then, the FSCA has issued dozens of licenses, and planetary crypto firms person acceptable up operations there. As of Oct. 10, a concern betwixt QR payments supplier Scan to Pay and Bitcoin (BTC) payments institution MoneyBadger allows South Africans to wage with crypto astatine 650,000 stores successful the country. On Wednesday, Ripple announced a partnership with South African slope Absa to supply crypto custody for the bank’s customers.

Related: A Bitcoiner’s usher to South Africa’s Garden Route

Lawmakers successful South Africa are inactive tweaking regulations. In August, Finance Minister Enoch Godongwana announced a draught model for cross-border crypto transactions. He said determination are inactive “practical challenges and implications if cryptocurrency is viewed arsenic money.”

The South African crypto manufacture is expected to turn by astir 8% by 2028. Source: Statista

Mauritius

In February 2022, the land federation of Mauritius passed the Virtual Asset and Initial Token Offering Services Act. According to the Mauritius International Finance Centre, the enactment “sets retired a broad legislative model to modulate the concern activities of virtual assets work providers and archetypal token offerings.”

Token issuers, wallets, exchanges and custodians are regulated by the Financial Services Commission. The enactment besides established standards for archetypal token providers, aligning with the standards acceptable by the Financial Action Task Force (FATF).

Botswana

Botswana’s Virtual Assets Act No. 3 of 2022 established a regulatory model for crypto overseen by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). Under the act, VASPs similar exchanges and token issuers person to registry with the NBFIRA. It besides establishes owed diligence and user extortion standards.

The cardinal slope has stated that it sees “minimal” hazard from cryptocurrencies. But successful December 2024, it said that further regulations are inactive needed.

Nigeria

In April 2025, Nigeria formally recognized crypto assets for the archetypal clip with the transition of the Investment and Securities Act (ISA). The ISA defined crypto arsenic securities and enactment VASPs, speech operators and different crypto businesses nether the scope of the Securities and Exchange Commission (SEC).

Last month, the Nigerian SEC refined its definitions for tokens into 4 categories for regulatory oversight. The bureau said its extremity was “not to hinder exertion oregon stifle innovation” but to make standards by which it could “encourage ethical practices that yet marque for a just and businesslike market.”

Uncertain regulations successful Nigeria, namely the suit against crypto speech Binance and the apprehension of Binance enforcement Tigran Gambaryan, near galore successful the manufacture wary astir doing concern there. Regulators person said that they are “open for business.”

Namibia

In 2023, Namibia enacted the Virtual Assets Act (VAA). Similar to galore different frameworks, it created guidelines for VASPs, including licensing regimes and supervision. The National Assembly said its apical aims were to support consumers, forestall marketplace maltreatment and little the risks of wealth laundering and illicit finance.

The instrumentality was published successful the Gazette of the Republic of Namibia. Source: Namibia government

The Namibia Financial Institutions Supervisory Authority, which serves arsenic the superior regulator, has a two-step licensing exemplary (first provisional, past afloat license). Applications are besides evaluated by the cardinal bank.

Tanzania

The Tanzanian authorities passed the Finance Act of 2024, which introduced 3% taxation connected payments made for integer plus exchanges oregon transfers to residents. The enactment broadly defines cryptocurrencies, tokens and non-fungible tokens (NFTs) arsenic “digital assets” and requires that platforms beryllium registered arsenic holding agents with the taxation authority.

Little advancement has been made since, but it reflects a displacement from the government’s erstwhile hard-line approach, which had banned crypto. In 2023, the Bank of Tanzania announced it would commencement investigating a cardinal slope integer currency but would instrumentality a “phased, cautious and risk-based approach.”

Seychelles

In August 2024, the Seychelles National Assembly passed the Virtual Asset Service Providers Act (VASPA). It came into effect connected Sept. 1 of that year.

The enactment requires VASPs to get a licence from the Financial Services Authority. Along with the accustomed Anti-Money Laundering and Know Your Customer requirements, it besides requires NFT and archetypal coin offering promoters to registry with the authorities.

The country’s presumption arsenic a comparatively lax fiscal hub has made it a magnet for concern and registrations. A June report from Tech successful Africa states that the state attracted 31% of each blockchain backing implicit the past year.

Kenya

On Oct. 13, the Kenyan parliament passed the Virtual Asset Service Providers Bill regulating integer assets and cryptocurrencies. Treasury Cabinet Secretary John Mbadi announced the draught legislation successful January, saying the authorities was “committed to creating the indispensable ineligible and regulatory framework” for cryptocurrencies.

The enactment volition found the cardinal slope arsenic the licensing authorization for stablecoin and token issuers, portion the Capital Markets Authority volition oversee and licence exchanges and different trading platforms.

Kuria Kimani, president of the concern committee successful the nationalist assembly, said, “We are hoping that Kenya tin beryllium present the gateway into Africa ... Most of the young radical betwixt 18 and 35 years of property are present utilizing virtual assets for trading, settling payments and arsenic a mode of concern oregon doing business.”

President William Ruto (right) signed the measure into instrumentality connected Oct. 15. Source: President William Ruto

Rwanda

In March 2025, the Capital Markets Authority (CMA) and the National Bank of Rwanda jointly introduced a draught instrumentality regulating crypto and VASPs. The instrumentality would make licenses for VASPs but besides represents a much cautious attack than immoderate different countries. The instrumentality would prohibition crypto mining, crypto ATMs and mixing services.

Local regulators were acrophobic astir the imaginable misuse of crypto, citing guidance from the FATF. Carine Twiringiyimana, manager of licensing and approvals astatine CMA, told section media, “A cardinal interest ... is that virtual assets tin beryllium utilized arsenic a transmission for wealth laundering. That’s wherefore these regulations are being introduced to mitigate specified risks portion besides providing wide guidance to the nationalist and virtual plus work providers.”