Bolivia vs Central African Republic
Crypto regulation comparison
Bolivia
Central African Republic
Legal
Legal
Bolivia reversed its 2014 cryptocurrency ban in June 2024, when the Central Bank issued a resolution allowing the use of cryptocurrencies and digital assets through authorized financial channels. The move was driven by the need for alternative payment mechanisms amid dollar shortages.
The Central African Republic briefly adopted Bitcoin as legal tender in 2022 under the 'Sango' project, but this was struck down by the Constitutional Court. Crypto remains legal but the legal tender status was reversed.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BCB (Banco Central de Bolivia), ASFI
Regulator
BEAC (Bank of Central African States)
Stablecoin Rules
No specific stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Bolivia banned crypto in 2014 via BCB Resolution 044/2014
- Ban was lifted in June 2024 via new BCB resolution permitting crypto transactions
- Reversal motivated by acute US dollar shortages in the country
- Regulatory framework for VASPs is still being developed
- Tax treatment of crypto remains largely unclear under Bolivian tax law
Key Points
- Bitcoin was briefly adopted as legal tender in 2022 via the Sango Act
- Constitutional Court struck down the legal tender provision
- Crypto trading and holding remain legal
- BEAC opposed the Bitcoin legal tender move
- Sango crypto hub project launched but has faced significant challenges