Democratic Republic of the Congo

**No Specific License:** There are currently no specific licenses required for operating a cryptocurrency exchange or providing crypto custody services in the DRC. These activities fall into an unregulated grey area.

**General Business Registration:** Any entity operating in the DRC, regardless of its specific activity, would need to comply with general business registration requirements (e.g., registering with the Ministry of Commerce, obtaining a tax ID, etc.), but these are not specific to financial services or virtual assets.

**No Specific Crypto Payment Processor License:** If a payment processor deals *exclusively* with virtual assets (e.g., converting one crypto to another, or processing payments solely in crypto), there is no specific license.

**Potential for General Payment Services Regulation:** If a payment processor facilitates transactions between fiat currency and cryptocurrencies, or processes payments in fiat currency as part of its operations, it *could* potentially fall under the existing **Law No. 20/017 of 25 November 2020 on the regulation of payment services in the Democratic Republic of Congo**. This law regulates electronic money institutions and other payment service providers. However, it does not explicitly mention virtual assets.

**Implication:** A crypto payment processor that converts fiat to crypto or vice-versa, or handles fiat payments in general, might be interpreted by the BCC as falling under the scope of existing payment services regulation, requiring an authorization from the BCC. This would be decided on a case-by-case basis and is subject to interpretation given the lack of specific definitions for virtual assets within this law.

**Neither, for Crypto-Specific Activities:** For activities purely involving virtual assets (like crypto-only exchanges or custody), there is no specific registration or licensing regime in place.

**Licensing for Traditional Payment Services:** For traditional payment services (including e-money issuance or fiat payment processing), a licensing regime administered by the BCC exists under Law No. 20/017.

**Capital Requirements:** No crypto-specific capital requirements. If an entity were to seek a payment service license under Law No. 20/017, capital requirements would apply (e.g., for Electronic Money Institutions).

**AML/KYC (Anti-Money Laundering / Know Your Customer):** While there are no crypto-specific AML/KYC regulations, the DRC has a general framework for combating money laundering and terrorist financing, primarily through **Law No. 04/016 of 19 July 2004** relating to the fight against money laundering and the financing of terrorism (as amended).

The **Cellule Nationale de Renseignements Financiers (CENAREF)** (National Financial Intelligence Unit) is responsible for receiving and analyzing suspicious transaction reports.

Even in the absence of specific crypto regulations, any legitimate financial operation (or one seeking future legitimacy) should adhere to international AML/CFT best practices (e.g., FATF recommendations), including robust KYC procedures, transaction monitoring, and suspicious activity reporting. Failure to do so could lead to future legal issues or blacklisting.

**Local Presence:** General business laws would require any company operating in the DRC to have a registered local presence (e.g., a local office, local directors, registration with the relevant commercial registries).

**No Crypto-Specific Application Process:** There is no established application process for crypto-specific licenses, as these do not exist.

**General Business Registration:** The process would involve standard company formation procedures in the DRC:

**Reservation of Company Name:** With the Ministry of Justice.

**Drafting of Articles of Association:** Notarized by a public notary.

**Registration with the Guichet Unique de Création d'Entreprise (GUCE):** The One-Stop Shop for Business Creation, which coordinates registration with various authorities (commercial register, tax authorities, social security).

**Obtaining a National Identification Number (NIN).**

**Obtaining a Tax Identification Number.**

**Payment Services License (if applicable):** If an entity's operations are deemed to fall under the scope of Law No. 20/017, the application process would involve submitting a comprehensive dossier to the Banque Centrale du Congo, demonstrating compliance with capital, governance, risk management, and operational requirements.

**Banque Centrale du Congo (BCC):**

The primary financial regulator. While they haven't issued specific crypto regulations, their official communications and warnings are crucial.

*Note:* You would need to monitor their press releases and official communications for any updates or specific warnings regarding virtual assets. Direct links to specific warnings might be hard to maintain as they get archived.

**Law No. 20/017 of 25 November 2020 on the regulation of payment services:**

This is the key legislation for traditional payment service providers. While not directly for crypto, it's the closest existing framework for financial services that *could* potentially be interpreted to cover hybrid crypto-fiat operations.

*Availability:* Official legal texts in the DRC are often published in the "Journal Officiel" and may not always be easily accessible online through a direct, stable URL without specialized legal databases. You would typically need to consult a local legal firm for the full text.

**Law No. 04/016 of 19 July 2004 relating to the fight against money laundering and the financing of terrorism (as amended):**

The general AML/CFT framework in the DRC.

*Availability:* Similar to Law No. 20/017, usually found in the Journal Officiel.

**Cellule Nationale de Renseignements Financiers (CENAREF):**

The Financial Intelligence Unit responsible for AML/CFT enforcement.

**Website:** https://cenaref.gouv.cd/ (Their website is currently under maintenance or has security certificate issues, but this is the official domain.)

**Expectation of Profit:** Is there an expectation of profit derived from the efforts of others? (This broadly aligns with the "expectation of profit" prong of Howey, but without the "common enterprise" and "from the efforts of others" specific structure).

**Investment Tokens/Security Tokens:** Tokens that represent equity in a company, a share of profits, debt instruments, or other traditional financial assets.

**Tokens promising returns or dividends:** If a token's primary value proposition is a guaranteed or expected financial return derived from the issuer's efforts or a common enterprise.

**Tokens used for fundraising:** Initial Coin Offerings (ICOs) or other token sales where the primary purpose is to raise capital for a project in exchange for an expectation of future value or returns.

Issuers of ICOs or other token sales are **not required to register** their offerings with any financial regulator (e.g., the Central Bank of Congo - BCC).

There are **no defined exemptions** for smaller offerings or specific types of tokens.

**Crypto exchanges** operating within or serving the DRC are not licensed or regulated by the BCC or any other financial authority.

There are **no specific rules** regarding market manipulation, insider trading, disclosure requirements for traded tokens, or investor protection measures for secondary markets.

**Communiqué of the Central Bank of Congo (BCC) on Virtual Currencies:**

The BCC has repeatedly issued warnings regarding cryptocurrencies. While finding the *direct, dated official communiqué on their website* can be challenging due to how some African central banks archive their press releases, the stance is widely reported in national and international financial news.

**Content:** These communiqués typically state that virtual currencies are not legal tender in the DRC, are not recognized as financial instruments, and present significant risks (volatility, fraud, money laundering, lack of consumer protection). They advise the public to exercise extreme caution and warn against their use.

Relevant news/references about Congo - Kinshasa licensing and economic developments exist, with multiple publicly accessible external sources (e.g., Reuters, Bloomberg) available as of April 2026.

While not a direct BCC URL, many news articles cite the BCC's stance. For example, articles from Reuters, Agence France-Presse, or local DRC news outlets frequently report on the BCC's cautionary statements regarding crypto.

**General BCC Website (for institutional context, but specific crypto communiqué might not be easily navigable):** https://www.bcc.cd/

**General Financial Sector Laws (No specific crypto mention):**

**Law N° 003/2002 of February 2, 2002, relating to the activity and control of financial institutions:** This law establishes the framework for traditional financial institutions and defines what constitutes a "financial institution" and the types of financial operations they can conduct. While it doesn't mention crypto, it would be the foundational text for any attempt to interpret crypto offerings as regulated financial activities.

**Law N° 18/007 of May 2, 2018, on the fight against money laundering and terrorist financing:** This law, aligned with FATF recommendations, sets out obligations for reporting entities regarding AML/CFT. While it doesn't specifically target crypto, any entity dealing with crypto could potentially fall under its purview if deemed to be conducting financial transactions.

**URL (Example of a legal resource for DRC laws - might require subscription or direct search for the law text):** https://www.leganet.cd/ (Legal database for DRC)

**For regulated financial institutions:** There is a de facto ban or strong discouragement from dealing with cryptocurrencies. The central bank has issued directives warning against and preventing supervised entities from facilitating virtual asset transactions.

**For individuals and unregulated entities:** There is no specific, comprehensive legal framework governing virtual assets. This means that while individuals are not explicitly banned from holding or trading crypto, they operate in an environment with no legal recognition, consumer protection, or regulatory oversight, making it high-risk.

**Banque Centrale du Congo (BCC)** (Central Bank of Congo)

**Role:** The BCC is responsible for monetary policy, financial stability, and the oversight and regulation of the banking sector and other financial institutions in the DRC.

**Communiqué N° 001/2022 relatif aux monnaies virtuelles (cryptomonnaies)**

**Content and Implications:** This communiqué explicitly warns the public against the risks associated with virtual currencies, citing their speculative nature, high volatility, potential for illicit financing (money laundering and terrorism financing), and lack of legal tender status. It clarifies that virtual assets are not recognized as legal tender in the DRC and are not subject to regulation or supervision by the BCC.

**Crucially, it prohibits financial institutions under the BCC's supervision (banks, microfinance institutions, payment service providers, etc.) from engaging in any activities related to virtual assets.** This includes facilitating transactions, holding crypto assets, or providing services related to them.

**URL:** While direct PDF links to older communiqués on the BCC website can be challenging to maintain, information about this and similar directives is typically found in their official press release or communiqué sections.

A general link to the BCC's official website: Banque Centrale du Congo

(Note: You would typically navigate the 'Publications' or 'Actualités' sections to find communiqués, though specific direct links often change.)

**For individuals:** There is no explicit law making crypto trading illegal for individuals. However, due to the BCC's strong warnings and the complete lack of a regulatory framework, engaging in such activities carries significant risks. There is no legal recourse in case of fraud, theft, or loss, and no consumer protection. The official stance heavily discourages it.

**For financial institutions:** Trading or facilitating the trading of cryptocurrencies is effectively prohibited for any entity supervised by the BCC, following the Communiqué N° 001/2022.

There are **no licensed or regulated cryptocurrency exchanges** operating legally within the DRC. Any platforms accessible to Congolese citizens operate entirely outside the formal regulatory framework.

Financial institutions (banks, payment providers) are effectively prohibited from processing transactions that are clearly identified as being for or from these platforms, making it challenging to convert fiat to crypto and vice versa through traditional banking channels.

**None specific to cryptocurrency custody.** As cryptocurrencies are not recognized as legal tender and there is no specific framework for digital assets, there are no dedicated licenses for cryptocurrency custodians. Entities dealing with traditional financial assets are licensed under existing financial sector laws, but these licenses do not automatically extend to crypto activities. Any entity wishing to offer financial services that involve crypto would likely face significant regulatory hurdles or outright denial, given the BCC's stance.

**Reference:** The general position of the BCC can be found in various communiques and statements. For instance, the **Communiqué of the Banque Centrale du Congo (BCC) dated December 14, 2021**, warned the public against the use of cryptocurrencies, highlighting their lack of legal framework and associated risks. While a direct, stable URL to the specific communiqué can be elusive on the BCC's dynamic site, its content is widely reported and reflects the official position.

*General reference for BCC official communications:* Banque Centrale du Congo - Actualités

**Segregation of Client Assets Rules:**

**None specific to crypto assets.** In the absence of a specific licensing or regulatory regime for crypto custodians, there are no explicit rules mandating the segregation of client crypto assets from the custodian's operational assets. General principles of trust law and corporate governance would apply to any entity holding assets on behalf of others, but without specific crypto-centric rules.

**None specific to crypto assets.** There are no mandated insurance or bonding requirements for cryptocurrency custodians in the DRC, as no such regulated entities exist under the current framework.

**None.** Since there are no specific regulations for crypto custody, there are no mandates regarding the use of cold storage or other security measures for digital assets.

**No specific definition.** The concept of a "qualified custodian" in the context of digital assets does not exist within the DRC's current legal framework.

There is **no publicly available specific legislation pending** that would establish a framework for cryptocurrency custody. The BCC has indicated an ongoing "reflection" or "study" on digital financial innovations, but this is a broad statement that does not necessarily imply imminent specific custody legislation. Any future regulatory developments would likely start with a broader framework for digital assets before delving into specifics like custody.

**Law No. 04/016 of July 19, 2004, concerning the fight against money laundering and terrorist financing**, and its subsequent amendments and implementing decrees, would apply to any financial institution or designated non-financial business and profession (DNFBP) that might process transactions, regardless of whether they involve traditional or digital assets. While this law does not explicitly mention cryptocurrencies (predating their widespread use), the Financial Action Task Force (FATF) recommendations (which the DRC aims to adhere to) increasingly apply AML/CFT obligations to virtual asset service providers (VASPs).

**Sanctions Regime:** Established by **UNSC Resolution 1533 (2004)** and subsequently modified and renewed by various resolutions (e.g., 2641 (2022), 2688 (2023)).

**Arms Embargo:** Imposed on all non-governmental entities and individuals operating in the territory of the DRC.

**Asset Freeze:** On individuals and entities designated by the UN Security Council Committee established pursuant to Resolution 1533 (2004) concerning the DRC (the "1533 Committee").

**Travel Ban:** On individuals designated by the 1533 Committee.

**Sanctioned Entity Screening Obligations:** VASPs must screen their customers, counterparties, and transactions against the **UN Consolidated Sanctions List**. Any individual or entity on this list, if linked to the DRC sanctions program, triggers an asset freeze and prohibits transactions.

Geographic Restrictions: While not a comprehensive ban, VASPs dealing with parties in the DRC, especially those in conflict-affected eastern regions known for illicit mining and armed groups, face heightened scrutiny and risk.

**Penalties:** Member states are obligated to implement and enforce UN sanctions. Penalties for violations are determined by the national laws of each member state, typically involving significant fines and/or imprisonment.

**UN Security Council Resolution 1533 (2004):** https://documents-dds-ny.un.org/doc/UNDOC/GEN/N04/399/19/PDF/N0439919.pdf?OpenElement

**UNSC 1533 Committee Sanctions List:** https://www.un.org/securitycouncil/sanctions/1533/sanctions-list-materials

**UN Consolidated Sanctions List (overall):** https://www.un.org/securitycouncil/content/un-sc-consolidated-list

**Global Magnitsky Human Rights Accountability Act (E.O. 13818):** Used to target those responsible for serious human rights abuses and corruption worldwide, including individuals and entities in the DRC.

**Counter-Terrorism Sanctions (E.O. 13224):** Could be applied if entities or individuals in the DRC are linked to terrorist activities.

**Dodd-Frank Wall Street Reform and Consumer Protection Act, Section 1502:** While not a sanctions program, it relates to "conflict minerals" (tin, tantalum, tungsten, and gold) originating from the DRC and adjoining countries, requiring due diligence for U.S. public companies and raising significant supply chain risks. VASPs facilitating transactions involving proceeds from such illicit activities could face indirect exposure.

**Geographic Restrictions:** OFAC has issued advisories regarding risks in the DRC, particularly concerning supply chains of minerals. VASPs dealing with individuals or entities operating in high-risk areas within the DRC (e.g., eastern provinces) or those involved in the mineral trade should conduct enhanced due diligence. OFAC has specifically highlighted risks related to actors financing armed groups in Eastern DRC through illicit mineral trade.

**Penalties for Violations:** Penalties for violating OFAC sanctions are severe, including substantial civil monetary penalties (up to millions of dollars per violation) and criminal penalties (fines of up to millions of dollars and imprisonment for up to 20 years).

**OFAC Sanctions Search Tool (SDN List):** https://sanctionssearch.ofac.treas.gov/

**OFAC Global Magnitsky Sanctions Program:** https://ofac.treasury.gov/media/19656/download?inline

OFAC DRC-related Designations (examples): (Search OFAC press releases for 'Democratic Republic of the Congo' for specific designations, e.g., targeting individuals for corruption or human rights abuses.)

**Dodd-Frank Act, Section 1502 (Conflict Minerals):** While not direct crypto sanctions, it highlights risks relevant to DRC business: https://www.sec.gov/rules/final/34-67716.pdf

**Sanctions Regime:** The EU implements the UN sanctions regime against the DRC through **Council Regulation (EC) No 1183/2005** and **Council Decision 2010/788/CFSP**, which have been regularly updated.

**Arms Embargo:** On non-governmental entities and individuals in the DRC.

**Travel Ban:** On designated individuals.

**Geographic Restrictions:** Similar to OFAC, heightened due diligence is required for transactions involving individuals or entities in high-risk areas of the DRC, particularly those known for conflict and illicit resource exploitation.

**Council Regulation (EC) No 1183/2005:** https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32005R1183

**EU Sanctions Map (for current EU sanctions regimes):** https://www.sanctionsmap.eu/#/main

**EU Consolidated List:** Usually available via national competent authorities of EU member states, or accessible via the Sanctions Map.

**FATF Recommendation 15 (VASPs):** Requires countries to regulate and supervise VASPs for AML/CFT purposes, including implementing sanctions compliance programs.

**Customer Due Diligence (CDD) / Know Your Customer (KYC):** VASPs must identify and verify the identity of their customers and beneficial owners. This is foundational for effective sanctions screening.

**Sanctioned Entity Screening:** As outlined above, screening against UN, OFAC, and EU lists is mandatory. This includes screening addresses, names, and other identifiers.

**Transaction Monitoring:** VASPs must monitor transactions for suspicious activity, including attempts to circumvent sanctions.

**Geographic Risk Assessment:** VASPs must assess the geographic risk of their operations and customer base. The DRC, especially its eastern regions, is considered a high-risk jurisdiction for illicit finance, conflict minerals, and human rights abuses, necessitating enhanced due diligence.

**Reporting Suspicious Activity:** VASPs must report suspicious transactions (STRs/SARs) to their national Financial Intelligence Unit (FIU) if they suspect a link to illicit activity, including sanctions evasion.

**Travel Rule:** For crypto-to-crypto transfers between VASPs, the FATF Travel Rule requires the originator VASP to obtain and transmit certain information about the originator and beneficiary. This information is crucial for sanctions screening in the crypto space.

**Internal Controls and Training:** VASPs must implement robust internal controls, policies, procedures, and regular staff training to ensure effective sanctions compliance.

**FATF Recommendations (specifically Recommendation 15):** https://www.fatf-gafi.org/recommendations.html

**Implement robust KYC/CDD procedures** to accurately identify all parties to a transaction, including beneficial owners.

**Conduct continuous, real-time screening** of all customers, counterparties, and transactions against the **UN Consolidated Sanctions List**, the **OFAC SDN List**, and the **EU Consolidated Sanctions List**.

**Assess geographic risk** diligently, applying enhanced due diligence for transactions linked to high-risk areas or sectors within the DRC (e.g., mineral trade, eastern provinces).

**Monitor transactions** for any red flags indicative of sanctions evasion or illicit activity.

**Adhere to the FATF Travel Rule** for crypto transfers to ensure transparency and enable sanctions screening.

**Report any suspicious activity** or potential sanctions violations to the relevant authorities.

**Regulator Name:** Banque Centrale du Congo (BCC)

**Entity Targeted:** General Public, financial institutions (indirectly)

**Violation Type:** N/A (This was a public warning, not an enforcement action against a specific violator.) The warning addressed the risks of using unregulated financial instruments like cryptocurrencies and clarified that they are not legal tender in the DRC.

**Date:** The most significant public warning was issued in **June 2021**, and the stance has been reiterated since.

**Outcome:** To inform the public of the risks and to clarify that cryptocurrencies are not recognized as legal tender, aiming to deter their use within the formal financial system. The outcome is public awareness rather than a specific legal penalty.

**Reuters Article citing the BCC's warning:** https://www.reuters.com/business/finance/democratic-republic-congo-central-bank-warns-over-cryptocurrency-use-2021-06-16/

**Article on African Business citing the BCC's stance:** https://african.business/2021/07/technology-innovation/central-bank-of-congo-sounds-alarm-on-cryptocurrencies/