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China vs Sierra Leone

Crypto regulation comparison

← Back to map | China | Sierra Leone
China

China

Sierra Leone

Sierra Leone

Banned
No Regulation

China has imposed a comprehensive ban on cryptocurrency activities. In September 2021, the PBOC and ten other agencies jointly declared all cryptocurrency transactions illegal, and the State Council banned crypto mining. China is instead promoting the digital yuan (e-CNY) CBDC.

Sierra Leone has no specific cryptocurrency regulation. The central bank has not issued formal guidance on crypto.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator PBOC (People's Bank of China), CBIRC, CSRC
Regulator Bank of Sierra Leone
Stablecoin Rules Not applicable; all crypto activities are banned
Stablecoin Rules No stablecoin regulation
Key Points
  • All crypto transactions declared illegal by PBOC and 10 agencies in September 2021
  • Crypto mining banned by the State Council in 2021 after a series of provincial crackdowns
  • Financial institutions and payment companies prohibited from facilitating crypto services
  • China actively developing and piloting the digital yuan (e-CNY) CBDC
  • Despite the ban, some Chinese citizens reportedly access crypto via VPNs and OTC desks
Key Points
  • No specific cryptocurrency legislation
  • Central bank has not issued formal crypto guidance
  • Limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
Sources
Sources