Is Crypto Legal in Eswatini?

Cryptocurrency is not illegal in Eswatini, but it is not recognized as legal tender and currently operates without specific cryptocurrency legislation or regulation (1)(2). The Central Bank of Eswatini and the Financial Services Regulatory Authority have issued public warnings stating that individuals who engage in digital currency trading must assume the associated risks (1). Cryptocurrencies and crypto assets relate to digital currencies issued by private entities that do not exist physically and have no legal tender status in Eswatini (1).

The Money Laundering and Financing of Terrorism Prevention Act of 2016 designates virtual asset service providers as accountable entities, requiring them to comply with anti-money laundering regulations (1). This encompasses virtual currency exchanges that provide exchange or custodial services for cryptocurrencies, as well as entities issuing cryptocurrencies regardless of whether they are pegged to reserve assets, fiat money, or exchange-traded commodities (1). Both regulatory authorities are closely monitoring regional, African, and global cryptocurrency developments (1).

"Both the Financial Services Regulatory Authority and the Central Bank of Eswatini are closely monitoring regional, African, and global developments. The Central Bank of Eswatini has been actively conducting research and experimentation on Central Bank Digital Currency to explore the issuance of a digital version of the country's currency."

A baseline cryptocurrency survey conducted in December 2023 revealed that 88.1% of respondents demonstrated awareness of cryptocurrency, though only 8.6% actually owned cryptocurrencies at the time (1). The Eswatini FinTech Landscape Report notes that there is no cryptocurrency service provider licensed to operate in Eswatini, and the sector lacks product diversity across FinTech verticals (2). The survey recommended that Eswatini adopt a balanced and proportionate approach to cryptocurrency regulation based on principles of risk-based supervision, consumer protection, financial stability, and international cooperation (1).

Source:
https://www.centralbank.org.sz/wp-content/uploads/2021/04/CRYPTO-MARKET-REPORT_18-Dec-2023.pdf
https://www.afi-global.org/wp-content/uploads/2024/10/Eswatini-Fintech-Landscape-Report.pdf

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