Benin vs Cyprus
Crypto regulation comparison
Benin
Cyprus
No Regulation
Legal
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.
Cyprus regulates crypto under the EU MiCA framework (fully applicable since December 2024). CySEC authorizes crypto-asset service providers (CASPs) while the Central Bank of Cyprus oversees e-money tokens and asset-referenced tokens. Crypto gains from occasional transactions are currently not taxed; active trading is taxed as income at 0-35%. A proposed 8% flat tax on crypto gains is pending parliamentary approval for 2026.
Tax Type
None
Tax Type
Varies
Tax Rate
N/A
Tax Rate
0-35% (proposed 8% flat rate from 2026)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCEAO (Central Bank of West African States)
Regulator
CySEC, Central Bank of Cyprus
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under EU MiCA framework
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
Key Points
- CySEC authorizes and supervises crypto-asset service providers under MiCA
- No capital gains tax on crypto for occasional transactions; active trading taxed as income
- EU MiCA regulation applies as an EU member state
- AML/CFT requirements enforced for all crypto businesses
- Proposed 8% flat tax on crypto gains pending parliamentary approval for 2026