Eritrea vs Namibia
Crypto regulation comparison
Eritrea
Namibia
Restricted
Legal
Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.
Namibia enacted the Virtual Assets Act (Act 10 of 2023) establishing a comprehensive licensing framework for VASPs. The Bank of Namibia is designated as regulator. Crypto is legal but not legal tender. No specific crypto tax framework yet.
Tax Type
None
Tax Type
No framework
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Bank of Eritrea
Regulator
Bank of Namibia
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Regulated under Virtual Assets Act
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
- Virtual Assets Act (Act 10 of 2023) signed into law July 2023
- VASPs must obtain licenses from Bank of Namibia to operate
- Provisional licenses granted to first two exchanges in 2025
- Non-compliance penalties up to NAD 10 million and 10 years imprisonment
- Crypto is not legal tender but merchants may accept at their discretion
