Cameroon vs Libya
Crypto regulation comparison
Cameroon
Libya
Restricted
Banned
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.
Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
Yes
Mining
No
Regulator
BEAC (Bank of Central African States), COBAC
Regulator
Central Bank of Libya
Stablecoin Rules
Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules
No 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
- Central Bank of Libya has warned against cryptocurrency use
- No specific cryptocurrency legislation
- Political instability limits regulatory development
- Crypto used informally despite restrictions
- No licensed crypto exchanges operate