Is Crypto Legal In Dominican Republic?

Cryptocurrency is legal to possess and trade in the Dominican Republic, though not recognized as legal tender by the Central Bank of the Dominican Republic. The BCRD issued statements in 2021 warning that crypto-assets are not government-backed and that regulated financial institutions engaging with cryptocurrencies may face fines or sanctions (1). The country lacks specific cryptocurrency legislation or licensing requirements, creating a legal gray area where individuals may use digital assets at their own risk without regulatory protection (1).

Despite regulatory reservations, the Dominican Republic has developed an active cryptocurrency community that includes peer-to-peer traders, investors, and local exchanges such as BitcoinRD and Momento. According to 2022 data, cryptocurrency usage increased by 52 percent compared to the previous year, with 54 percent of Dominican consumers expressing interest in educational workshops about digital assets (1). The International Monetary Fund provided technical assistance to the Dominican Republic in 2024 to assess implications of launching a retail Central Bank Digital Currency, exploring potential CBDC designs and policy objectives for financial inclusion and payment system modernization (2).

"The Central Bank of the Dominican Republic has issued two separate statements regarding crypto currencies essentially saying that crypto assets are not government-backed and are not fiat currency."

Most Dominican banks refuse to serve clients involved in cryptocurrency-related services due to regulatory warnings and compliance concerns. Financial entities that choose to engage with cryptocurrency transactions do so at their own risk and responsibility under existing anti-money laundering frameworks governed by Law 155-17 and overseen by the Financial Analysis Unit (1). The Dominican Republic central bank is exploring development of a new instant payment system to broaden financial inclusion, as alternative digital payment solutions gain traction in a nation where significant portions of the population remain underbanked (2).

Source:
https://multilaw.com/Multilaw/ZENTSO/BusinessGuides/Presentation/Section_Home.aspx?GuideId=2&GuideCountry=Dominican+Republic&GuideSection=829
https://www.imf.org/en/Publications/high-level-summary-technical-assistance-reports/Issues/2024/08/28/Dominican-Republic-Assessing-the-Implications-of-a-retail-Central-Bank-Digital-Currency-554119

Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.