Crypto-funded debit card in 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.

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.

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).

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):

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

Règlement N° 004/2018 du 28 mars 2018 relatif aux agréments des prestataires des services de paiement et des émetteurs de monnaie électronique (Regulation N° 004/2018 of March 28, 2018, on the Licensing of Payment Service Providers and Electronic Money Issuers). This regulation provides detailed rules for entities wishing to operate as e-money issuers or payment service providers.

Minimum capital requirements.

Regulator: Banque Centrale du Congo (BCC).

Any funds that are illegally derived from cryptocurrency activities and then attempt to enter the formal financial system would be subject to general anti-money laundering (AML) and anti-terrorism financing (ATF) reporting requirements by financial institutions.

Regulator Name: Banque Centrale du Congo (BCC)

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.

The Democratic Republic of the Congo is working to improve and align its anti-money laundering and counter-financing of terrorism (AML/CFT) framework with international standards but remains under FATF increased monitoring due to identified strategic deficiencies, so it cannot be considered fully compliant with AML/CFT requirements.