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Libya vs Senegal

Crypto regulation comparison

← Back to map | Libya | Senegal
Libya

Libya

Senegal

Senegal

Banned
No Regulation

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.

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 No No
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Central Bank of Libya
Regulator BCEAO (Central Bank of West African States)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No stablecoin regulation
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
  • 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