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Cameroon vs Cyprus

Crypto regulation comparison

← Back to map | Cameroon | Cyprus
Cameroon

Cameroon

Cyprus

Cyprus

Restricted
Legal

Cameroon has no specific national cryptocurrency legislation. As a CEMAC member, COBAC issued a 2022 directive banning financial institutions from facilitating crypto transactions. BEAC opposes crypto regulation and does not recognize cryptocurrencies. Individual ownership is not explicitly banned but access via formal banking is restricted.

Cyprus regulates crypto under the EU MiCA framework (fully applicable since December 2024). CySEC authorizes crypto-asset service providers (CASPs) while the Central Bank of Cyprus oversees e-money tokens and asset-referenced tokens. Crypto gains from occasional transactions are currently not taxed; active trading is taxed as income at 0-35%. A proposed 8% flat tax on crypto gains is pending parliamentary approval for 2026.

Tax Type None
Tax Type Varies
Tax Rate N/A
Tax Rate 0-35% (proposed 8% flat rate from 2026)
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BEAC (Bank of Central African States), COBAC
Regulator CySEC, Central Bank of Cyprus
Stablecoin Rules Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules Regulated under EU MiCA framework
Key Points
  • No specific national cryptocurrency legislation
  • COBAC 2022 directive bans banks and payment providers from facilitating crypto transactions
  • BEAC firmly opposes cryptocurrency regulation in the CEMAC region
  • Part of the CEMAC monetary zone with the CFA franc
  • Nearly 900,000 crypto users in Cameroon despite restrictive banking environment
Key Points
  • CySEC authorizes and supervises crypto-asset service providers under MiCA
  • No capital gains tax on crypto for occasional transactions; active trading taxed as income
  • EU MiCA regulation applies as an EU member state
  • AML/CFT requirements enforced for all crypto businesses
  • Proposed 8% flat tax on crypto gains pending parliamentary approval for 2026
Sources
Sources
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