Ivory Coast vs South Africa
Crypto regulation comparison
Ivory Coast
South Africa
No Regulation
Legal
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.
South Africa has embraced crypto regulation. In 2022, the FSCA declared crypto assets as financial products under the Financial Advisory and Intermediary Services (FAIS) Act, requiring crypto service providers to obtain FSCA licenses. SARS taxes crypto gains under capital gains tax (up to 18% effective rate for individuals) or income tax depending on trading frequency. South Africa is the largest crypto market in Africa.
Tax Type
None
Tax Type
Capital gains
Tax Rate
N/A
Tax Rate
18% (effective max ~18%)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
BCEAO (Central Bank of West African States)
Regulator
FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Crypto assets declared financial products under FAIS; stablecoins included
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
- Crypto declared a financial product under FAIS Act (2022); service providers must be FSCA-licensed
- FSCA began licensing crypto asset service providers (CASPs) in 2023
- Capital gains taxed at effective rate up to 18% (45% max marginal rate × 40% inclusion)
- Frequent trading may be classified as income and taxed at marginal rates (up to 45%)
- SARB regulates cross-border crypto transactions under exchange control regulations