Cameroon vs Saint Kitts and Nevis
Crypto regulation comparison
Cameroon
Saint Kitts and Nevis
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.
Saint Kitts and Nevis has taken a crypto-friendly approach. No income or capital gains tax. The country accepts crypto for citizenship by investment.
Tax Type
None
Tax Type
No tax
Tax Rate
N/A
Tax Rate
0%
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
BEAC (Bank of Central African States), COBAC
Regulator
Eastern Caribbean Central Bank (ECCB), Financial Services Regulatory Commission
Stablecoin Rules
Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules
No specific stablecoin regulation
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
- Crypto-friendly regulatory approach
- No income or capital gains tax
- Citizenship by investment accepts cryptocurrency
- ECCB provides regional monetary oversight
- Growing digital economy initiatives