BTC $66,890.00 (-1.67%)
ETH $1,969.51 (-2.39%)
XRP $1.42 (-4.77%)
BNB $605.29 (-2.85%)
SOL $81.62 (-4.40%)
TRX $0.28 (-0.50%)
DOGE $0.10 (-4.08%)
BCH $555.69 (-1.58%)
ADA $0.27 (-4.09%)
LEO $8.64 (+1.07%)
HYPE $28.94 (-1.76%)
LINK $8.63 (-3.04%)
CC $0.16 (-2.89%)
XMR $323.86 (-5.01%)
XLM $0.16 (-4.60%)
RAIN $0.01 (-3.25%)
ZEC $260.10 (-8.63%)
HBAR $0.10 (-3.42%)
LTC $52.85 (-2.71%)
AVAX $8.83 (-3.27%)

Senegal vs South Africa

Crypto regulation comparison

← Back to map | Senegal | South Africa
Senegal

Senegal

South Africa

South Africa

No Regulation
Legal

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.

South Africa has embraced crypto regulation. In 2022, the FSCA declared crypto assets as financial products under the Financial Advisory and Intermediary Services (FAIS) Act, requiring crypto service providers to obtain FSCA licenses. SARS taxes crypto gains under capital gains tax (up to 18% effective rate for individuals) or income tax depending on trading frequency. South Africa is the largest crypto market in Africa.

Tax Type None
Tax Type Capital gains
Tax Rate N/A
Tax Rate 18% (effective max ~18%)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining No No
Regulator BCEAO (Central Bank of West African States)
Regulator FSCA (Financial Sector Conduct Authority), SARB (South African Reserve Bank)
Stablecoin Rules No stablecoin regulation
Stablecoin Rules Crypto assets declared financial products under FAIS; stablecoins included
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
Key Points
  • Crypto declared a financial product under FAIS Act (2022); service providers must be FSCA-licensed
  • FSCA began licensing crypto asset service providers (CASPs) in 2023
  • Capital gains taxed at effective rate up to 18% (45% max marginal rate × 40% inclusion)
  • Frequent trading may be classified as income and taxed at marginal rates (up to 45%)
  • SARB regulates cross-border crypto transactions under exchange control regulations
Sources
Sources