The governor of the Bank of Ghana announced that crypto regulations will be in place by the end of 2025, following draft guidelines published last year. Ghana aims to join nine other African countries with specific laws for digital assets, as crypto adoption in Sub-Saharan Africa grows. Grassroots adoption has made Africa the third-fastest-growing region for crypto.
South Africa declared crypto a financial product in 2022, leading to proper regulation and licensing regimes. Dozens of licenses have been issued, allowing international firms to operate in the country. Partnerships between QR payments provider Scan to Pay, Bitcoin payments company MoneyBadger, and Ripple with South African bank Absa are examples. Regulations are still being updated.
Mauritius passed the Virtual Asset and Initial Token Offering Services Act in February 2022 to regulate virtual asset service providers and initial token offerings. The act aligns with FATF standards and established regulatory frameworks for token issuers, wallets, exchanges, and custodians. The Financial Services Commission oversees compliance with the act.
Botswana’s Virtual Assets Act No. 3 of 2022 created a regulatory framework for crypto under the Non-Bank Financial Institutions Regulatory Authority. VASPs like exchanges and token issuers must register and adhere to due diligence and consumer protection standards. The central bank acknowledges minimal risks from cryptocurrencies but seeks additional regulations.
Nigeria recognized crypto assets for the first time in 2025 under the Investment and Securities Act, defining them as securities. The SEC oversees VASPs, exchange operators, and businesses. Uncertain regulations, including a lawsuit against Binance, have left some wary. Regulators aim to encourage ethical practices and a fair market while being open for business.
Namibia enacted the Virtual Assets Act in 2023 to regulate VASPs, focusing on consumer protection, preventing market abuse, and reducing money laundering risks. The Namibia Financial Institutions Supervisory Authority oversees a two-step licensing process for VASPs, evaluated by the central bank. Tanzania introduced a tax on digital asset payments in 2024, reflecting a shift in regulatory approach. The government is cautious about central bank digital currencies.
Seychelles passed the Virtual Asset Service Providers Act in 2024, requiring licenses for VASPs from the Financial Services Authority. The country’s lax financial regulations have attracted investment. Kenya’s parliament passed the Virtual Asset Service Providers Bill in 2025 to regulate digital assets. The act establishes licensing authorities for stablecoin and token issuers and trading platforms.
Rwanda introduced a draft law regulating crypto and VASPs in March 2025, aiming to mitigate money laundering risks. The law would ban crypto mining, ATMs, and mixing services, reflecting a cautious approach. Regulators are concerned about the potential misuse of virtual assets and aim to provide clear guidance to the public and service providers.
Read more at Cointelegraph: Africa Countries Pass Crypto Laws to Attract Industry