Eritrea vs Tanzania
Crypto regulation comparison
Eritrea
Tanzania
Restricted
Partially Regulated
Eritrea has a highly restrictive financial environment. The government tightly controls the economy and financial system. No crypto activities are formally permitted.
Tanzania's regulatory stance on crypto is evolving. The Bank of Tanzania warned against crypto in 2019, but the 2024 Finance Act introduced a 3% withholding tax on digital asset transactions — Tanzania's first legal recognition of crypto. A December 2024 High Court ruling held that taxed crypto transactions cannot be deemed unlawful. No comprehensive regulatory framework exists yet.
Tax Type
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
3% withholding tax
Exchanges
No
Exchanges
Yes
Mining
No
Mining
No
Regulator
Bank of Eritrea
Regulator
Bank of Tanzania
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
- Bank of Tanzania warned against crypto trading in 2019 public notice
- Finance Act 2024 introduced 3% withholding tax on digital asset transactions
- December 2024 High Court ruled taxed crypto transactions are not unlawful
- An estimated 2.3 million Tanzanians own cryptocurrency
- Bank of Tanzania exploring central bank digital currency (CBDC)