Namibia vs Timor-Leste
Crypto regulation comparison
Namibia
Timor-Leste
Legal
No Regulation
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.
Timor-Leste has no specific cryptocurrency regulation. Uses the US dollar as its official currency.
Tax Type
No framework
Tax Type
None
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Bank of Namibia
Regulator
Banco Central de Timor-Leste
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
- No specific cryptocurrency legislation
- Uses the US dollar as official currency
- Central bank has not addressed crypto regulation
- Very limited financial infrastructure
- Minimal crypto adoption