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Guinea-Bissau vs Senegal

Crypto regulation comparison

← Back to map | Guinea-Bissau | Senegal
Guinea-Bissau

Guinea-Bissau

Senegal

Senegal

No Regulation
No Regulation

Guinea-Bissau has no specific cryptocurrency regulation. As a WAEMU member, it falls under BCEAO oversight.

Senegal has no specific national cryptocurrency legislation. As a WAEMU member, the BCEAO does not recognize crypto as legal tender and has issued warnings about risks. Crypto is not illegal but operates without legal protection. BCEAO tightened foreign exchange controls in 2024, and fintech firms now require licenses under BCEAO Instruction 001-01-2024.

Tax Type None
Tax Type None
Tax Rate N/A
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BCEAO (Central Bank of West African States)
Regulator BCEAO (Central Bank of West African States)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No stablecoin regulation
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
Key Points
  • No specific national cryptocurrency legislation
  • Crypto not illegal but BCEAO has issued warnings about risks
  • Part of the WAEMU monetary zone using the CFA franc
  • BCEAO tightened foreign exchange controls and AML requirements in 2024
  • Fintech firms now require BCEAO licenses under Instruction 001-01-2024
Sources
Sources