Is Crypto Legal in Mali?

Cryptocurrency is not legal in Mali, as the country operates under the regulatory framework of the Central Bank of West African States (BCEAO), which has stated that cryptocurrencies are not permitted in the West African Economic and Monetary Union zone (1). As a member of the eight-country WAMU, Mali's central bank is the BCEAO, which governs monetary policy for Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo (2).

The BCEAO governor, Tiemoko Meyliet Koné, stated that Bitcoin and cryptocurrencies are not welcome in WAEMU, explaining that a currency needs a counterpart and a value guarantee (1). The governor stressed that since there is no authority accountable for these currencies, the BCEAO cannot allow their circulation in the region, and several conversations with other central banks had yielded no changes in their position (1). The BCEAO maintains it has not handled cryptocurrencies since they are not permitted in the zone (1).

"The BCEAO governor stressed that since there is no authority accountable for these currencies, the BCEAO cannot allow their circulation in the region."

The government of Mali has not yet issued a statement or presented a public stance on the legality of cryptocurrencies at the national level (1). Earlier reports suggested that the BCEAO were involved in launching a regional digital currency called the eCFA, but in April 2017 the BCEAO denied this, saying they were not considering creating digital currency in any member states (1). The Central Bank of West African States was founded on May 12, 1962, and centralizes cash reserves while managing monetary policy for the union (2).

Source:
https://chaintum.io/wp-content/uploads/2023/10/Blockchain-and-Crypto-Regulations-in-BCEAO-1.pdf
https://www.bceao.int/en/content/presentation-bceao

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