Iran vs Namibia
Crypto regulation comparison
Iran
Namibia
Restricted
Legal
Iran has a complex stance on cryptocurrency. Crypto mining is legal and licensed by the Ministry of Industry, but using crypto for domestic payments is banned by the CBI. The government has explored using crypto for international trade to circumvent sanctions. Mining operations are periodically shut down during energy shortages.
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
Unclear
Tax Type
No framework
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
CBI (Central Bank of Iran), Ministry of Industry
Regulator
Bank of Namibia
Stablecoin Rules
Not applicable; crypto payments and trading domestically restricted
Stablecoin Rules
Regulated under Virtual Assets Act
Key Points
- Crypto mining is legal and licensed by the Ministry of Industry, Mine and Trade
- CBI bans using crypto as a domestic payment method
- Licensed miners must sell mined crypto to the CBI or authorized exporters
- Government has explored crypto for sanctions evasion in international trade
- Mining farms periodically shut down during summer/winter energy demand peaks
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