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Maldives vs Namibia

Crypto regulation comparison

← Back to map | Maldives | Namibia
Maldives

Maldives

Namibia

Namibia

Restricted
Legal

The Maldives Monetary Authority has warned against cryptocurrency and does not recognize it as legal tender. No specific legislation exists but the MMA discourages crypto activities.

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 Maldives Monetary Authority (MMA)
Regulator Bank of Namibia
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Regulated under Virtual Assets Act
Key Points
  • MMA has warned against cryptocurrency use
  • Crypto not recognized as legal tender
  • No specific cryptocurrency legislation
  • Financial institutions discouraged from dealing in crypto
  • Limited crypto adoption
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