Botswana vs Montenegro
Crypto regulation comparison
Botswana
Montenegro
Legal
Legal
Botswana passed the Virtual Assets Act in 2022, first African country to issue crypto licenses. NBFIRA supervises VASPs. 4 licensed entities as of 2024. Penalties up to P250,000 or 5 years imprisonment.
Montenegro has no specific crypto law but crypto is not prohibited. Working toward EU candidacy and potential MiCA alignment. Capital gains taxed under general provisions.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
9-15%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Regulator
Central Bank of Montenegro, Capital Market Authority
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No specific stablecoin regulation
Key Points
- Virtual Assets Act enacted in 2022, effective Feb 22, 2022
- First African country to issue crypto licenses via NBFIRA
- 4 licensed VASPs as of December 2024
- Bank of Botswana assesses domestic crypto risks as minimal
- Unregistered crypto dealers face fines up to P250,000 or imprisonment
Key Points
- No specific cryptocurrency legislation but crypto is legal
- Working toward EU candidacy and MiCA alignment
- Capital gains on crypto taxed at 9-15%
- Central Bank has acknowledged crypto without banning it
- Growing interest in crypto-friendly policies