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Benin vs Uganda

Crypto regulation comparison

← Back to map | Benin | Uganda
Benin

Benin

Uganda

Uganda

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.

Uganda restricts cryptocurrency. The Bank of Uganda issued a 2022 circular (NPSD 306) barring licensed payment service providers from facilitating crypto transactions. A 2023 High Court ruling upheld the circular, declaring cryptocurrencies illegal under the National Payment Systems Act 2020. No crypto exchanges are licensed to operate. Informal P2P crypto activity exists despite restrictions.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator BCEAO (Central Bank of West African States)
Regulator BOU (Bank of Uganda), CMA Uganda
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No 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
  • BOU Circular NPSD 306 (April 2022) bars licensed entities from facilitating crypto
  • 2023 High Court ruled cryptocurrencies illegal under National Payment Systems Act 2020
  • Growing crypto adoption, particularly for cross-border transactions
  • No specific crypto taxation rules
  • Financial Intelligence Authority requires VASPs to comply with AML laws
Sources
Sources