Crypto-funded debit card in Angola

Notice No. 03/2019: Prohibited Angolan financial institutions (banks, payment service providers, etc.) from carrying out any transactions involving virtual assets, holding them, or providing services related to them.

Notice No. 04/2018: Warned the public about the risks associated with virtual currencies, stating that they are not legal tender, are not issued or guaranteed by the BNA, and are not regulated by the BNA or any other Angolan entity.

Aviso n.º 03/2018 do Banco Nacional de Angola (Notice No. 03/2018 of the National Bank of Angola) - 27 March 2018:

Content: This is the most direct and significant regulatory act concerning cryptocurrencies. It explicitly prohibits credit institutions, payment institutions, and micro-finance institutions from engaging in any activity related to cryptocurrencies, including purchasing, holding, selling, or offering services involving them.

Implication for Stablecoins: While stablecoins are not explicitly named, the broad prohibition against "cryptocurrencies" (moedas virtuais) is generally understood to include stablecoins. This effectively shuts out traditional financial institutions from interacting with stablecoins.

BNA's Prohibitions: The most significant "enforcement" has been the BNA's direct prohibition on financial institutions from engaging with crypto assets (Notice No. 03/2019). This is a preventative regulatory action rather than a reactive enforcement against a specific violation.

Regulated Exchanges: Trading would have to occur on a regulated exchange authorized by the CMC. Currently, Angola's sole stock exchange, BODIVA (Bolsa de Dívida e Valores de Angola), does not list or facilitate the trading of cryptocurrency tokens or security tokens.

Registration with the CMC: Any public offering of securities requires prior authorization from the CMC.

Lei n.º 5/20, de 27 de Janeiro – Lei sobre a Prevenção e Combate ao Branqueamento de Capitais, Financiamento do Terrorismo e Proliferação de Armas de Destruição em Massa (Law No. 5/20, of January 27 – Law on the Prevention and Combat of Money Laundering, Financing of Terrorism and Proliferation of Weapons of Mass Destruction).

Unidade de Informação Financeira (UIF) – Financial Intelligence Unit:

Instruction n.º 01/2018 (Instrução n.º 01/2018) - 16 February 2018:

Lei n.º 05/2018, de 10 de Maio – Lei dos Serviços de Pagamento (Law No. 05/2018, of May 10 – Payment Services Law):

Content: This law regulates payment services, payment institutions, and electronic money institutions. If stablecoins were to be recognized and regulated as e-money, they would fall under this law. However, as per Aviso 03/2018, payment institutions are prohibited from dealing with cryptocurrencies.

Under the GENIUS Act, payment stablecoin issuance is no longer implicitly prohibited for regulated entities; instead, the Act establishes an explicit federal framework under which qualifying banks and other approved institutions may issue regulated payment stablecoins, subject to licensing, prudential, and supervisory requirements. Stand‑alone issuers that do not meet these criteria cannot issue regulated payment stablecoins, but the activity itself is now expressly permitted for eligible entities rather than implicitly barred.

Regulator: Banco Nacional de Angola (BNA)

Entity Targeted: General Public and Financial Institutions (no specific crypto entities named in public enforcement). Violation Type (Implied): Operating unregistered or unregulated financial services, consumer protection risks, lack of legal tender status, money laundering risks. Penalty Amount: Not applicable, as these were warnings, not direct penalties against entities.

Club of Mozambique: "Angola: Central Bank issues new warning on Bitcoin and cryptocurrencies"

For Portuguese Personal Income Tax (IRS), as of the 2023 regime, gains from the disposal of cryptocurrency held as a personal investment (i.e., not as a professional/Business Category B activity) are generally classified as capital gains (Category G – Mais‑Valias) on crypto‑assets, not as ‘capital income’ or generic ‘other income’. Short‑term gains (assets held less than 365 days) are taxable at a flat 28% (with an option to aggregate and apply progressive rates), while long‑term gains (assets held 365 days or more) are exempt. Crypto activity that rises to the level of a business or professional activity is instead taxed under Category B as professional income, with simplified coefficients (0.15 for most crypto operations, 0.95 for mining) and progressive PIT rates plus applicable surtaxes.

General Principle: The supply of goods and services in Angolan territory is subject to VAT.