Namibia vs Tonga
Crypto regulation comparison
Namibia
Tonga
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.
Tonga has no specific cryptocurrency regulation. There has been legislative interest in adopting Bitcoin as legal tender but no legislation has been enacted.
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
National Reserve Bank of Tonga
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
- Legislative interest in Bitcoin legal tender discussed
- National Reserve Bank provides monetary oversight
- Limited crypto infrastructure
- No licensing framework for crypto services