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Libya vs Namibia

Crypto regulation comparison

← Back to map | Libya | Namibia
Libya

Libya

Namibia

Namibia

Banned
Legal

Libya has a restrictive stance on cryptocurrency. The Central Bank of Libya has warned against crypto use. Political instability and a divided government complicate any regulatory development.

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 No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Central Bank of Libya
Regulator Bank of Namibia
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Regulated under Virtual Assets Act
Key Points
  • Central Bank of Libya has warned against cryptocurrency use
  • No specific cryptocurrency legislation
  • Political instability limits regulatory development
  • Crypto used informally despite restrictions
  • No licensed crypto exchanges operate
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
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