Ethiopia vs Cambodia
Crypto regulation comparison
Ethiopia
Cambodia
Restricted
Restricted
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.
Cambodia has a restrictive stance on cryptocurrency. The National Bank of Cambodia prohibits banks and financial institutions from dealing in crypto, and unlicensed crypto businesses are illegal. However, the government has shown interest in blockchain technology and launched Bakong, a CBDC-like payment system.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
National Bank of Ethiopia
Regulator
National Bank of Cambodia (NBC), SERC
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
Bakong (CBDC) promoted as alternative; private stablecoins not specifically regulated
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
- NBC issued a 2018 directive prohibiting banks from dealing in cryptocurrency
- Unlicensed crypto exchanges and trading platforms are banned
- Bakong digital payment system launched in 2020 using blockchain technology
- SERC (Securities and Exchange Regulator) has discussed regulating crypto as digital assets
- Despite restrictions, peer-to-peer crypto usage remains significant