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Bangladesh vs Benin

Crypto regulation comparison

← Back to map | Bangladesh | Benin
Bangladesh

Bangladesh

Benin

Benin

Banned
No Regulation

Bangladesh effectively bans cryptocurrency. Bangladesh Bank issued warnings in 2017 citing anti-money laundering laws, and the Foreign Exchange Regulation Act 1947 prohibits unapproved digital currency transactions. Violations can result in imprisonment up to 12 years.

Benin has no specific cryptocurrency regulation. As a WAEMU member, it falls under BCEAO oversight. The BCEAO has warned against crypto but there is no formal ban.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Bangladesh Bank
Regulator BCEAO (Central Bank of West African States)
Stablecoin Rules Not applicable; all crypto transactions are prohibited
Stablecoin Rules No stablecoin regulation
Key Points
  • Bangladesh Bank issued a 2017 notice warning against crypto transactions
  • Foreign Exchange Regulation Act 1947 used to prohibit crypto dealings
  • Money Laundering Prevention Act 2012 applies to crypto-related activities
  • Penalties can include up to 10 years imprisonment and fines up to 3 million BDT
  • Despite the ban, some peer-to-peer trading occurs underground
Key Points
  • No specific national cryptocurrency legislation
  • BCEAO provides regional monetary and regulatory oversight
  • Part of the WAEMU monetary zone using the CFA franc
  • Limited crypto adoption
  • No licensing framework for crypto businesses
Sources
Sources