Self-custodial wallet / non-custodial software in South Sudan

Central Bank Warnings/Prohibitions (Primary Enforcement): The Central Bank of South Sudan (CBSS) has repeatedly issued warnings and effectively prohibited the use and trading of cryptocurrencies within the country.

2021/2022 Circulars/Statements: The CBSS has advised the public against dealing in cryptocurrencies, citing risks such as lack of regulation, volatility, potential for illicit finance (money laundering, terrorism financing), consumer protection issues, and potential disruption to financial stability. These statements generally declare that cryptocurrencies are not legal tender in South Sudan and that activities related to them are not authorized or regulated.

Bank of South Sudan's Statement (Reported by various news outlets):

Outcome: Cryptocurrencies are not recognized as legal tender, and the public is warned against using them. Financial institutions are expected to avoid dealing with crypto.

Implied Prohibition: As there are no licensed exchanges or platforms for trading cryptocurrencies in South Sudan, any secondary trading would occur either peer-to-peer or on foreign exchanges. This lack of a regulated local framework means that any local platform facilitating secondary trading of tokens (especially if deemed securities) would likely be considered an unauthorized financial institution or an illegal exchange operation.

Entity Targeted: General public and financial institutions. Violation Type: Engaging with or facilitating the use of unregulated, high-risk assets that are not legal tender. (Implicit: regulatory non-compliance for financial institutions). Penalty Amount: No specific penalty amount against any entity.

Focus on Underlying Activity: The CBSS's concern generally lies with the activity being performed using cryptocurrencies rather than the inherent nature of the token itself. If the activity involves unauthorized fundraising, speculation by the general public, or money laundering, it will draw regulatory attention.