Congo (Democratic Republic) vs Iraq
Crypto regulation comparison
Congo (Democratic Republic)
Iraq
Banned
Banned
The BCC has explicitly banned cryptocurrencies in the DRC. Bitcoin and all virtual currencies are neither regulated nor authorized. The BCC has warned against pyramid schemes using crypto.
Iraq has banned cryptocurrency dealings. The Central Bank of Iraq issued a directive in 2017 prohibiting banks, financial institutions, and exchange companies from dealing in cryptocurrency. Despite the ban, some underground and peer-to-peer crypto trading reportedly persists.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Banque Centrale du Congo
Regulator
CBI (Central Bank of Iraq)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Not applicable; crypto activities prohibited
Key Points
- BCC explicitly prohibits all cryptocurrency activity
- Virtual currencies are neither regulated nor authorized to operate
- BCC warns of high risks of cybercrime and money laundering
- Unauthorized crypto investment schemes have been shut down
- No licensing framework exists for crypto service providers
Key Points
- CBI banned all crypto dealings by financial institutions in 2017
- Exchange companies are prohibited from handling cryptocurrency
- No regulatory framework for crypto businesses
- Underground and P2P crypto trading reportedly exists despite the ban
- The ban is motivated by AML concerns and financial stability considerations