Remote VASP serving residents in Burundi

Cryptocurrencies are not recognized as legal tender in Burundi.

They are not regulated by the BRB, meaning there is no legal protection for users or investors.

Cryptocurrency Exchanges: Operating a crypto exchange in Burundi is prohibited.

Custody Providers: Providing crypto custody services is prohibited.

Payment Processors: Engaging in payment processing for transactions involving cryptocurrencies is prohibited. Traditional fiat payment processors would still require relevant licenses from the BRB for their conventional operations, but these licenses would not extend to virtual assets.

Financial institutions are explicitly prohibited from engaging in cryptocurrency-related activities.

Communiqué N° BRB/DGD/2021-002 du 16 Décembre 2021 de la Banque de la République du Burundi (Bank of the Republic of Burundi Communiqué No. BRB/DGD/2021-002 of December 16, 2021).

This communiqué specifically warned the public against the risks of cryptocurrencies and prohibited financial institutions from dealing with them.

While not an "enforcement" against a specific entity, it serves to prevent activity and creates a legal basis for future enforcement if someone were to openly defy it. Any entity found to be engaging in unauthorized financial activities (including crypto-related ones) could face penalties under existing banking and financial laws for operating outside regulatory licenses.

Law N°1/01 of 04 January 2011 on Anti-Money Laundering and Combating the Financing of Terrorism. This law, along with its implementing decrees and ordinances, establishes the general framework for identifying, reporting, and prosecuting money laundering and terrorist financing activities.

Subsequent Amendments and Regulations: The law is subject to updates and specific regulations issued by relevant authorities, primarily the Financial Intelligence Unit (FIU) and the Central Bank.

Under FATF Recommendation 15 and its interpretive note, virtual asset service providers (VASPs) are expected to be explicitly licensed or registered and directly subject to full AML/CFT requirements—including customer due diligence (CDD), record‑keeping, ongoing monitoring, suspicious transaction reporting, and Travel Rule obligations—on the same footing as other regulated financial institutions, rather than having CDD applied only hypothetically or merely ‘by analogy’ if they were formally regulated.

Reporting Thresholds: While specific thresholds might exist for certain fiat transactions, the primary obligation is to report any transaction (regardless of amount) that is suspected of being related to money laundering or terrorist financing.

Regulated institutions are expected to conduct risk‑based, ongoing sanctions and broader watchlist screening of customers, their transactions, counterparties, and beneficial owners against up‑to‑date sanctions lists and other relevant watchlists (such as PEP, law‑enforcement, and similar datasets), rather than limiting checks to one‑off customer screening only.

Emerging Regulatory Landscape: Many developing nations, including Burundi, are still in the early stages of establishing comprehensive regulatory frameworks for cryptocurrencies. The focus often remains on issuing warnings and advisories rather than direct, targeted enforcement actions against specific entities.

Central Bank Stance: The primary financial regulator in Burundi is the Banque de la République du Burundi (BRB). Like many central banks in Africa, the BRB has generally adopted a cautious stance towards cryptocurrencies, often stating that they are not recognized as legal tender and advising citizens of the associated risks (volatility, scams, lack of consumer protection). These are regulatory statements but not enforcement actions against specific entities.

Lack of Public Reporting: Even if smaller, localized enforcement actions against individuals or informal crypto operations have occurred (e.g., related to fraud or unlicensed financial activities), they are often not widely reported by international or even national news outlets, especially without significant financial or legal implications.