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Crypto Regulation in Ethiopia

Ethiopia's Proclamation No. 1359/2024 explicitly prohibits cryptocurrency for payment transactions but allows the NBE to issue future guidelines on digital assets. Crypto mining is legal and actively growing, with Ethiopia emerging as a major Bitcoin mining destination leveraging hydroelectric power. A comprehensive regulatory framework is under development.

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Ethiopia

Ethiopia

Restricted

Ethiopia's Proclamation No. 1359/2024 explicitly prohibits cryptocurrency for payment transactions but allows the NBE to issue future guidelines on digital assets. Crypto mining is legal and actively growing, with Ethiopia emerging as a major Bitcoin mining destination leveraging hydroelectric power. A comprehensive regulatory framework is under development.

Tax Type None
Tax Rate N/A
Exchanges No No
Mining Yes Yes
Regulator National Bank of Ethiopia
Stablecoin Rules No stablecoin regulation
Key Points
  • Proclamation No. 1359/2024 prohibits cryptocurrency for payment transactions
  • NBE authorized to issue future directives on crypto assets and CBDCs
  • Crypto mining is legal and rapidly expanding, leveraging hydroelectric power
  • Ethiopia has become one of the fastest-growing Bitcoin mining destinations globally
  • Comprehensive digital asset regulatory framework under development
Sources

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