Self-custodial wallet / non-custodial software in Guinea

Custody Providers: Providing services for safeguarding cryptographic keys or virtual assets on behalf of customers is not permitted.

Cryptocurrency Exchanges: Operating a platform for buying, selling, or exchanging cryptocurrencies is not permitted.

Payment Processors (for Virtual Assets): Facilitating payments or transfers using cryptocurrencies is not permitted.

Their lack of legal tender status and absence of intrinsic value.

The fact that they are not recognized as legitimate currencies or financial instruments under Guinean law.

The absence of regulatory oversight and consumer protection mechanisms.

AML/KYC: The general anti-money laundering and combating the financing of terrorism (AML/CFT) laws and regulations of Guinea would still apply to any financial activity. These laws would make it extremely difficult (and likely illegal) to process transactions for unregulated assets like cryptocurrencies without proper identification and reporting mechanisms.

Law N° L/2018/005/AN concerning the Fight Against Money Laundering and Terrorist Financing (LBC/FT): This is the fundamental legal text. It replaced older legislation and aims to align Guinea's framework with international standards, particularly the FATF recommendations.

Decree N° D/2019/078/PRG/SGG of 29 March 2019, on the Application of Law N° L/2018/005/AN: This decree provides the implementing details for the AML/CFT law.

Risk-Based Approach (RBA): VASPs must implement an RBA, meaning they should apply enhanced due diligence (EDD) for higher-risk situations (e.g., transactions involving politically exposed persons (PEPs), customers from high-risk jurisdictions, complex or unusually large transactions, new or developing technologies and products). Conversely, simplified due diligence (SDD) may be applied in lower-risk scenarios.

Report Suspicious Transactions: Immediately report any transaction (or attempted transaction) that they suspect involves money laundering or terrorist financing to the Financial Intelligence Unit (FIU). This includes transactions regardless of the amount.

Cellule Nationale de Traitement des Informations Financières (CENTIF-Guinée)

Transaction Records: All records of financial transactions, including the amounts, currencies, virtual assets involved, dates, and parties to the transaction.

Customer Identification Data: All documents and information obtained during the CDD process (e.g., copies of identification documents, beneficial ownership information).

Regulator Name: Banque Centrale de la République de Guinée (BCRG) - (Central Bank of the Republic of Guinea)

No dedicated crypto regulatory body: Guinea does not have a specific regulatory body solely focused on cryptocurrency, nor a comprehensive legal framework for crypto assets.

Focus on fraud: Any direct "enforcement" actions are more likely to fall under general criminal law for fraud or illegal financial operations, rather than specific crypto regulations.

Local Presence: For any recognized financial institution, a physical local presence and registration would be mandatory.