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Cameroon vs El Salvador

Crypto regulation comparison

← Back to map | Cameroon | El Salvador
Cameroon

Cameroon

El Salvador

El Salvador

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.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type None
Tax Type No tax
Tax Rate N/A
Tax Rate 0%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BEAC (Bank of Central African States), COBAC
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules Not applicable — COBAC bans financial institutions from crypto transactions
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources