Ivory Coast vs Saudi Arabia
Crypto regulation comparison
Ivory Coast
Saudi Arabia
No Regulation
Restricted
Ivory Coast has no specific cryptocurrency legislation. As a WAEMU member under BCEAO oversight, it follows regional monetary policy. Growing fintech interest is driving discussions around crypto regulation.
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
BCEAO (Central Bank of West African States)
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No regulation; crypto trading not authorized
Key Points
- No specific national cryptocurrency legislation
- BCEAO provides regional monetary and regulatory oversight
- Part of the WAEMU monetary zone using the CFA franc
- Growing fintech sector driving interest in crypto
- No formal licensing framework for crypto businesses
Key Points
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)