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United Arab Emirates vs Cameroon

Crypto regulation comparison

← Back to map | United Arab Emirates | Cameroon
United Arab Emirates

United Arab Emirates

Cameroon

Cameroon

Legal
Restricted

The UAE has become a global crypto hub with multiple regulatory frameworks. Dubai's VARA (Virtual Assets Regulatory Authority), established in 2022, is the world's first dedicated crypto regulator and licenses exchanges, brokers, and other VASPs. Abu Dhabi's ADGM regulates crypto through the FSRA. The federal SCA also oversees crypto at the national level. The UAE has no personal income or capital gains tax. Major global exchanges (Binance, Bybit, OKX, Crypto.com) have obtained UAE licenses.

Cameroon has no specific national cryptocurrency legislation. As a CEMAC member, COBAC issued a 2022 directive banning financial institutions from facilitating crypto transactions. BEAC opposes crypto regulation and does not recognize cryptocurrencies. Individual ownership is not explicitly banned but access via formal banking is restricted.

Tax Type None
Tax Type None
Tax Rate 0%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator VARA (Dubai), ADGM/FSRA (Abu Dhabi), SCA (Federal), CBUAE
Regulator BEAC (Bank of Central African States), COBAC
Stablecoin Rules VARA regulates stablecoins in Dubai; ADGM has separate framework
Stablecoin Rules Not applicable — COBAC bans financial institutions from crypto transactions
Key Points
  • VARA (Dubai) — world's first standalone virtual asset regulator; comprehensive licensing framework
  • ADGM/FSRA (Abu Dhabi) — separate regulatory framework for digital assets in the financial free zone
  • No personal income tax or capital gains tax in the UAE
  • 9% corporate tax (from 2023) may apply to crypto businesses but not individual investors
  • Major exchanges licensed: Binance, Bybit, OKX, Crypto.com, BitOasis
Key Points
  • No specific national cryptocurrency legislation
  • COBAC 2022 directive bans banks and payment providers from facilitating crypto transactions
  • BEAC firmly opposes cryptocurrency regulation in the CEMAC region
  • Part of the CEMAC monetary zone with the CFA franc
  • Nearly 900,000 crypto users in Cameroon despite restrictive banking environment
Sources
Sources