Tonga vs Tanzania
Crypto regulation comparison
Tonga
Tanzania
No Regulation
Partially Regulated
Tonga has no specific cryptocurrency regulation. There has been legislative interest in adopting Bitcoin as legal tender but no legislation has been enacted.
Tanzania's regulatory stance on crypto is evolving. The Bank of Tanzania warned against crypto in 2019, but the 2024 Finance Act introduced a 3% withholding tax on digital asset transactions — Tanzania's first legal recognition of crypto. A December 2024 High Court ruling held that taxed crypto transactions cannot be deemed unlawful. No comprehensive regulatory framework exists yet.
Tax Type
None
Tax Type
Income
Tax Rate
N/A
Tax Rate
3% withholding tax
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
No
Regulator
National Reserve Bank of Tonga
Regulator
Bank of Tanzania
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
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
Key Points
- Bank of Tanzania warned against crypto trading in 2019 public notice
- Finance Act 2024 introduced 3% withholding tax on digital asset transactions
- December 2024 High Court ruled taxed crypto transactions are not unlawful
- An estimated 2.3 million Tanzanians own cryptocurrency
- Bank of Tanzania exploring central bank digital currency (CBDC)