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Micronesia vs Namibia

Crypto regulation comparison

← Back to map | Micronesia | Namibia
Micronesia

Micronesia

Namibia

Namibia

No Regulation
Legal

Micronesia has no specific cryptocurrency regulation. Uses the US dollar as its official currency.

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 Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Department of Finance and Administration
Regulator Bank of Namibia
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Regulated under Virtual Assets Act
Key Points
  • No specific cryptocurrency legislation
  • Uses the US dollar as official currency
  • Very limited financial infrastructure
  • Minimal crypto adoption
  • No licensing framework for crypto services
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
Sources
Sources