Libya vs Somalia
Crypto regulation comparison
Libya
Somalia
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.
Somalia has no specific cryptocurrency regulation. The fragmented governance structure makes unified regulation extremely difficult. Mobile money dominates the financial landscape.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
No
Mining
Yes
Regulator
Central Bank of Libya
Regulator
Central Bank of Somalia
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 cryptocurrency legislation
- Fragmented governance limits regulatory development
- Mobile money dominates informal financial system
- Very limited formal financial infrastructure
- No licensing framework for crypto services