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Eritrea vs Senegal

Crypto regulation comparison

← Back to map | Eritrea | Senegal
Eritrea

Eritrea

Senegal

Senegal

Restricted
No Regulation

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

Senegal has no specific national cryptocurrency legislation. As a WAEMU member, the BCEAO does not recognize crypto as legal tender and has issued warnings about risks. Crypto is not illegal but operates without legal protection. BCEAO tightened foreign exchange controls in 2024, and fintech firms now require licenses under BCEAO Instruction 001-01-2024.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Bank of Eritrea
Regulator BCEAO (Central Bank of West African States)
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
  • No specific national cryptocurrency legislation
  • Crypto not illegal but BCEAO has issued warnings about risks
  • Part of the WAEMU monetary zone using the CFA franc
  • BCEAO tightened foreign exchange controls and AML requirements in 2024
  • Fintech firms now require BCEAO licenses under Instruction 001-01-2024
Sources
Sources