Cameroon vs San Marino
Crypto regulation comparison
Cameroon
San Marino
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.
San Marino has developed a regulatory framework for blockchain entities. The country has issued licenses for blockchain-based businesses.
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
Central Bank of San Marino, AIF (Financial Information Agency)
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
- Delegated Decree on blockchain technology entities issued
- Licenses issued for blockchain-based businesses
- AIF provides regulatory oversight
- Small jurisdiction working to attract blockchain companies
- Developing comprehensive digital asset regulation