Cameroon vs Ghana
Crypto regulation comparison
Cameroon
Ghana
Restricted
No Regulation
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.
Ghana has no specific cryptocurrency legislation. The Bank of Ghana has warned citizens about the risks of crypto but has not imposed an outright ban. SEC Ghana has indicated plans to develop a regulatory framework for digital assets, and the country has one of Africa's growing crypto communities.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BEAC (Bank of Central African States), COBAC
Regulator
Bank of Ghana (BoG), SEC Ghana
Stablecoin Rules
Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules
No stablecoin regulation; Bank of Ghana exploring e-Cedi CBDC
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
- No specific cryptocurrency legislation or regulatory framework exists
- Bank of Ghana issued warnings about crypto risks but has not banned it
- SEC Ghana has expressed interest in developing a digital asset framework
- Ghana has high crypto adoption relative to its economy, particularly for P2P trading
- Bank of Ghana has been piloting the e-Cedi CBDC