Is Crypto Legal in Malawi?

Cryptocurrency is not legal in Malawi, as the Reserve Bank of Malawi has stated that cryptocurrencies are not recognized as legal tender in the country. The government is currently working on a National Framework on Cryptocurrency Adoption to guide the regulated entry of cryptocurrency into its economy (1). The Reserve Bank cautions members of the public to desist from participating in cryptocurrency or assets trading, as it does not regulate the sector (2).

The Reserve Bank of Malawi bears the exclusive mandate to issue legal tender, including bank notes and coins in Malawi, and to date has not issued any form of cryptocurrency (2). RBM spokesperson Mark Lungu explained that institutions involved in crypto trading are not registered as financial entities in Malawi, making such activities a criminal matter requiring law enforcement intervention (2). The government is working on a policy around crypto assets, with the hope that necessary legal instruments will be promulgated to guide the market once the policy position is pronounced (2).

"Since the institutions are not registered as financial entities in Malawi, this becomes a criminal matter and there are relevant authorities and law enforcement agencies such as the Malawi Police Service to conduct criminal investigations."

The Government of Malawi is committed to fostering innovation in financial technology while ensuring a secure and well-regulated cryptocurrency environment (1). Through its national framework, Malawi aims to position itself in digital financial transformation, unlocking new economic opportunities for its citizens and businesses (1). The framework will be subject to periodic reviews to adapt to evolving global and local economic conditions (1). Despite the current restrictions, stakeholders including the ICT Association of Malawi continue to pressure the central bank to reconsider cryptocurrency adoption (2).

Source:
https://www.scribd.com/document/889081472/Government-of-Malawi-National-Framework-on-Cryptocurrency-Adoption
https://times.mw/reserve-bank-of-malawi-cautions-on-crypto-virtual-assets-trading/

Last updated: 19-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.