Namibia vs Syria
Crypto regulation comparison
Namibia
Syria
Legal
Banned
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.
Syria has a restrictive stance on cryptocurrency compounded by international sanctions. The Central Bank has not authorized crypto activities. International sanctions make access to crypto platforms extremely difficult.
Tax Type
No framework
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
Bank of Namibia
Regulator
Central Bank of Syria
Stablecoin Rules
Regulated under Virtual Assets Act
Stablecoin Rules
No stablecoin regulation
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
Key Points
- Central Bank has not authorized cryptocurrency activities
- International sanctions severely restrict crypto access
- No specific cryptocurrency legislation
- Limited internet infrastructure hampers crypto use
- Informal crypto usage exists despite restrictions