Ghana vs Somalia
Crypto regulation comparison
Ghana
Somalia
No Regulation
No Regulation
Ghana has no specific cryptocurrency legislation. The Bank of Ghana has warned citizens about the risks of crypto but has not imposed an outright ban. SEC Ghana has indicated plans to develop a regulatory framework for digital assets, and the country has one of Africa's growing crypto communities.
Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.
Tax Type
Unclear
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Bank of Ghana (BoG), SEC Ghana
Regulator
Central Bank of Somalia
Stablecoin Rules
No stablecoin regulation; Bank of Ghana exploring e-Cedi CBDC
Stablecoin Rules
No stablecoin regulation
Key Points
- No specific cryptocurrency legislation or regulatory framework exists
- Bank of Ghana issued warnings about crypto risks but has not banned it
- SEC Ghana has expressed interest in developing a digital asset framework
- Ghana has high crypto adoption relative to its economy, particularly for P2P trading
- Bank of Ghana has been piloting the e-Cedi CBDC
Key Points
- No specific cryptocurrency legislation
- Fragmented governance limits regulatory development
- Mobile money dominates informal financial system
- Very limited formal financial infrastructure
- No licensing framework for crypto services