Ethiopia vs Guinea-Bissau
Crypto regulation comparison
Ethiopia
Guinea-Bissau
Restricted
No Regulation
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.
Guinea-Bissau has no specific cryptocurrency regulation. As a WAEMU member, it falls under BCEAO oversight.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
National Bank of Ethiopia
Regulator
BCEAO (Central Bank of West African States)
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
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
Key Points
- No specific national cryptocurrency legislation
- BCEAO provides regional monetary oversight
- Part of the WAEMU monetary zone using the CFA franc
- Very limited crypto adoption
- No licensing framework for crypto businesses