Benin vs Ethiopia
Crypto regulation comparison
Benin
Ethiopia
No Regulation
Restricted
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.
Ethiopia's Proclamation No. 1359/2024 explicitly prohibits cryptocurrency for payment transactions but allows the NBE to issue future guidelines on digital assets. Crypto mining is legal and actively growing, with Ethiopia emerging as a major Bitcoin mining destination leveraging hydroelectric power. A comprehensive regulatory framework is under development.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
BCEAO (Central Bank of West African States)
Regulator
National Bank of Ethiopia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
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
- Proclamation No. 1359/2024 prohibits cryptocurrency for payment transactions
- NBE authorized to issue future directives on crypto assets and CBDCs
- Crypto mining is legal and rapidly expanding, leveraging hydroelectric power
- Ethiopia has become one of the fastest-growing Bitcoin mining destinations globally
- Comprehensive digital asset regulatory framework under development