Armenia vs Ghana
Crypto regulation comparison
Armenia
Ghana
Legal
No Regulation
Armenia adopted a comprehensive Law on Crypto Assets in May 2025, effective July 2025, modeled on the EU's MiCA. The Central Bank of Armenia licenses crypto service providers. Non-entrepreneur crypto gains are tax-free (0%); ECOS Free Economic Zone offers incentives for blockchain startups. Licensing enforcement begins January 2026.
Ghana has no specific cryptocurrency legislation. The Bank of Ghana has warned citizens about the risks of crypto but has not imposed an outright ban. SEC Ghana has indicated plans to develop a regulatory framework for digital assets, and the country has one of Africa's growing crypto communities.
Tax Type
Capital gains
Tax Type
Unclear
Tax Rate
0% (non-entrepreneur) / 10-20% (business)
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Armenia
Regulator
Bank of Ghana (BoG), SEC Ghana
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No stablecoin regulation; Bank of Ghana exploring e-Cedi CBDC
Key Points
- Law on Crypto Assets adopted May 2025, effective July 2025
- Central Bank of Armenia licenses all crypto service providers
- 0% capital gains tax for non-entrepreneur crypto transactions
- Framework modeled on EU MiCA regulation
- Licensing enforcement begins January 31, 2026
Key Points
- No specific cryptocurrency legislation or regulatory framework exists
- Bank of Ghana issued warnings about crypto risks but has not banned it
- SEC Ghana has expressed interest in developing a digital asset framework
- Ghana has high crypto adoption relative to its economy, particularly for P2P trading
- Bank of Ghana has been piloting the e-Cedi CBDC