Yesterday, the governor of the Financial institution of Ghana, the nation’s central financial institution, mentioned that crypto rules will probably be in place by the tip of 2025. This follows draft pointers the financial institution printed final 12 months.
By introducing a robust authorized footing for crypto traders and corporations, Ghana will be a part of 9 different international locations on the continent which have legal guidelines in place for digital property.
Normally, crypto adoption is rising in Africa, significantly in Sub-Saharan Africa. Grassroots adoption and retail exercise make it the third-fastest-growing region for crypto.
Lawmakers are taking discover. Right here’s a take a look at 10 international locations which have developed, or are growing, particular authorized frameworks:
Ghana
Johnson Asiama, governor of the Financial institution of Ghana, mentioned on the Worldwide Financial Fund’s assembly on Thursday that his nation will have the ability to deliver robust crypto regulations by the 12 months’s finish.
“That invoice is on its technique to parliament. Hopefully earlier than the tip of December, we should always have the ability to regulate cryptocurrencies in Ghana,” he mentioned.
The rules are a very long time coming. The financial institution first published draft legislation in August 2024. In these pointers, the financial institution proposed an eight-pillar framework, which included growing registration and reporting necessities for exchanges and digital asset service suppliers (VASPs).
The brand new legal guidelines intention to handle rising curiosity in crypto amongst Ghanaian traders. Some 3 million Ghanaians, or practically 9% of the nation’s inhabitants, use crypto.
South Africa
In 2022, the Monetary Sector Conduct Authority (FSCA) of South Africa formally declared crypto to be a monetary product. This introduced crypto beneath the Monetary Advisory and Middleman Companies Act. This implies digital property are regulated with correct licensing regimes, shopper protections and consumer verifications in place.
Since then, the FSCA has issued dozens of licenses, and worldwide crypto companies have arrange operations there. As of Oct. 10, a partnership between QR funds supplier Scan to Pay and Bitcoin (BTC) funds firm MoneyBadger allows South Africans to pay with crypto at 650,000 shops within the nation. On Wednesday, Ripple announced a partnership with South African financial institution Absa to supply crypto custody for the financial institution’s clients.
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Lawmakers in South Africa are nonetheless tweaking rules. In August, Finance Minister Enoch Godongwana introduced a draft framework for cross-border crypto transactions. He said there are nonetheless “sensible challenges and implications if cryptocurrency is seen as cash.”
Mauritius
In February 2022, the island nation of Mauritius handed the Digital Asset and Preliminary Token Providing Companies Act. In response to the Mauritius Worldwide Finance Centre, the act “units out a complete legislative framework to manage the enterprise actions of digital property service suppliers and preliminary token choices.”
Token issuers, wallets, exchanges and custodians are regulated by the Monetary Companies Fee. The act additionally established requirements for preliminary token suppliers, aligning with the requirements set by the Monetary Motion Activity Power (FATF).
Botswana
Botswana’s Digital Belongings Act No. 3 of 2022 established a regulatory framework for crypto overseen by the Non-Financial institution Monetary Establishments Regulatory Authority (NBFIRA). Beneath the act, VASPs like exchanges and token issuers should register with the NBFIRA. It additionally establishes due diligence and shopper safety requirements.
The central financial institution has acknowledged that it sees “minimal” risk from cryptocurrencies. However in December 2024, it mentioned that extra rules are nonetheless wanted.
Nigeria
In April 2025, Nigeria formally recognized crypto property for the primary time with the passage of the Funding and Securities Act (ISA). The ISA outlined crypto as securities and put VASPs, change operators and different crypto companies beneath the scope of the Securities and Trade Fee (SEC).
Final month, the Nigerian SEC refined its definitions for tokens into 4 classes for regulatory oversight. The company mentioned its purpose was “to not hinder expertise or stifle innovation” however to create requirements by which it might “encourage moral practices that in the end make for a good and environment friendly market.”
Unsure rules in Nigeria, specifically the lawsuit in opposition to crypto change Binance and the arrest of Binance government Tigran Gambaryan, left many within the business cautious about doing enterprise there. Regulators have said that they are “open for business.”
Namibia
In 2023, Namibia enacted the Virtual Assets Act (VAA). Just like many different frameworks, it created pointers for VASPs, together with licensing regimes and supervision. The Nationwide Meeting mentioned its high goals have been to guard shoppers, forestall market abuse and decrease the dangers of cash laundering and illicit finance.
The Namibia Monetary Establishments Supervisory Authority, which serves as the first regulator, has a two-step licensing mannequin (first provisional, then full license). Purposes are additionally evaluated by the central financial institution.
Tanzania
The Tanzanian authorities handed the Finance Act of 2024, which launched 3% tax on funds made for digital asset exchanges or transfers to residents. The act broadly defines cryptocurrencies, tokens and non-fungible tokens (NFTs) as “digital property” and requires that platforms be registered as holding brokers with the tax authority.
Little progress has been made since, nevertheless it displays a shift from the federal government’s earlier hard-line method, which had banned crypto. In 2023, the Financial institution of Tanzania introduced it might begin investigating a central financial institution digital foreign money however would take a “phased, cautious and risk-based method.”
Seychelles
In August 2024, the Seychelles Nationwide Meeting passed the Digital Asset Service Suppliers Act (VASPA). It got here into impact on Sept. 1 of that 12 months.
The act requires VASPs to get a license from the Monetary Companies Authority. Together with the standard Anti-Cash Laundering and Know Your Buyer necessities, it additionally requires NFT and preliminary coin providing promoters to register with the authorities.
The nation’s standing as a comparatively lax monetary hub has made it a magnet for funding and registrations. A June report from Tech in Africa states that the nation attracted 31% of all blockchain funding during the last 12 months.
Kenya
On Oct. 13, the Kenyan parliament passed the Digital Asset Service Suppliers Invoice regulating digital property and cryptocurrencies. Treasury Cupboard Secretary John Mbadi announced the draft legislation in January, saying the federal government was “dedicated to creating the mandatory authorized and regulatory framework” for cryptocurrencies.
The act will set up the central financial institution because the licensing authority for stablecoin and token issuers, whereas the Capital Markets Authority will oversee and license exchanges and different buying and selling platforms.
Kuria Kimani, chairman of the finance committee within the nationwide meeting, mentioned, “We hope that Kenya will be now the gateway into Africa … A lot of the younger folks between 18 and 35 years of age at the moment are utilizing digital property for buying and selling, settling funds and as a means of funding or doing enterprise.”
Rwanda
In March 2025, the Capital Markets Authority (CMA) and the Nationwide Financial institution of Rwanda collectively launched a draft regulation regulating crypto and VASPs. The regulation would create licenses for VASPs but in addition represents a extra cautious method than another international locations. The regulation would ban crypto mining, crypto ATMs and mixing companies.
Native regulators have been involved in regards to the potential misuse of crypto, citing steerage from the FATF. Carine Twiringiyimana, supervisor of licensing and approvals at CMA, told native media, “A key concern … is that digital property can be utilized as a channel for cash laundering. That’s why these rules are being launched to mitigate such dangers whereas additionally offering clear steerage to the general public and digital asset service suppliers.”
