Namibia vs Zambia
Crypto regulation comparison
Namibia
Zambia
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.
Zambia has no comprehensive cryptocurrency legislation. The SEC warns the public about unregulated crypto schemes and evaluates whether specific products qualify as securities. The Bank of Zambia's 2024-2027 Strategic Plan includes developing a crypto and stablecoin regulatory framework. Blockchain-based regulatory testing is underway with the SEC and BoZ.
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
Bank of Zambia, Securities and Exchange Commission
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
- SEC warns public against unregulated cryptocurrency schemes
- Crypto products regulated only if they meet the definition of a security
- BoZ 2024-2027 Strategic Plan includes crypto and stablecoin regulatory framework
- Blockchain-based regulatory testing underway with SEC and BoZ
- Kwacha is sole legal tender for domestic transactions per 2025 Currency Directives