Is Crypto Legal In Equatorial Guinea?

Cryptocurrency possession and trading are not explicitly prohibited in Equatorial Guinea, though digital currencies are not recognized as legal tender by the Bank of Central African States. As a member of the Central African Economic and Monetary Community, Equatorial Guinea operates under regional monetary regulations that significantly restrict cryptocurrency transactions through financial institutions (1). In May 2022, the Central African Banking Commission issued Decision D-2022/071 prohibiting banks, microfinance institutions, payment service providers, and their technical partners from holding, using, exchanging, or converting cryptocurrencies (1).

The prohibition aims to safeguard financial stability and protect customer deposits within the CEMAC region following the Central African Republic's controversial cryptocurrency law adoption. Reporting institutions must identify and track cryptocurrency-related transactions, submitting detailed monthly reports to the COBAC Secretariat General and the Central Bank including client information, transaction amounts, currencies involved, and purposes (1). The regulatory framework mandates that the CFA franc remains the exclusive currency for reporting institutions' accounts, with conventional currencies issued by central banks used solely for foreign exchange accounts (1).

"Reporting institutions and their technical partners engaged in payment services are forbidden from exchanging, converting, settling, or hedging transactions related to cryptocurrencies, or those linked to them."

Despite regulatory restrictions through formal banking channels, individual cryptocurrency activities remain unregulated with no specific penalties for personal trading or mining operations. The World Bank's 2024 Digital Economy Diagnostic emphasizes that digital transformation could play a critical role in Equatorial Guinea's economic diversification strategy, though digital financial services remain in early stages (2). The country still needs to establish licensed e-money operators for mobile money services, and connectivity issues continue hindering digital financial service development, suggesting cryptocurrency infrastructure faces significant foundational challenges (2).

Source:
https://4mlegaltax.com/regulation-of-cryptocurrency-in-the-cemac/
https://www.worldbank.org/en/country/equatorialguinea/publication/equatorial-guinea-digital-economy-country-diagnostic-bridging-the-gaps-to-develop-a-safe-and-inclusive-digital-transform

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