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Malawi vs Senegal

Crypto regulation comparison

← Back to map | Malawi | Senegal
Malawi

Malawi

Senegal

Senegal

No Regulation
No Regulation

Malawi has no specific cryptocurrency regulation. The Reserve Bank of Malawi has issued warnings about crypto risks but has not banned it.

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 Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Reserve Bank of Malawi
Regulator BCEAO (Central Bank of West African States)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No stablecoin regulation
Key Points
  • No specific cryptocurrency legislation
  • Reserve Bank of Malawi warns about crypto risks
  • Crypto not recognized as legal tender
  • Limited crypto infrastructure and adoption
  • No licensing framework for crypto services
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