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Eritrea vs Ethiopia

Crypto regulation comparison

← Back to map | Eritrea | Ethiopia
Eritrea

Eritrea

Ethiopia

Ethiopia

Restricted
Restricted

Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.

Ethiopia's Proclamation No. 1359/2024 explicitly prohibits cryptocurrency for payment transactions but allows the NBE to issue future guidelines on digital assets. Crypto mining is legal and actively growing, with Ethiopia emerging as a major Bitcoin mining destination leveraging hydroelectric power. A comprehensive regulatory framework is under development.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges No No
Mining No No
Mining Yes Yes
Regulator Bank of Eritrea
Regulator National Bank of Ethiopia
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No stablecoin regulation
Key Points
  • Highly restrictive financial environment
  • Government tightly controls the economy
  • No specific cryptocurrency legislation
  • Very limited internet access
  • No formal crypto services or exchanges
Key Points
  • Proclamation No. 1359/2024 prohibits cryptocurrency for payment transactions
  • NBE authorized to issue future directives on crypto assets and CBDCs
  • Crypto mining is legal and rapidly expanding, leveraging hydroelectric power
  • Ethiopia has become one of the fastest-growing Bitcoin mining destinations globally
  • Comprehensive digital asset regulatory framework under development
Sources
Sources