Stablecoin issuer / redeemer in Tunisia

No explicit classification: Tunisian law does not explicitly classify stablecoins as e-money, payment tokens, or securities.

Likely Default Treatment: Due to the absence of specific legislation, stablecoins are generally treated as unregulated and unauthorized financial instruments.

Potential "e-money" conflict: If a stablecoin were pegged to the Tunisian Dinar or aimed to function as a payment instrument, it would likely fall under the scope of laws governing electronic money and payment services. However, without explicit BCT authorization (which is highly unlikely given their current stance), such an operation would be considered illegal. The primary legislation in this area is:

Loi n° 2016-71 du 30 septembre 2016, relative aux établissements de paiement (Law No. 2016-71 of September 30, 2016, on Payment Institutions). This law defines electronic money and regulates the issuance of electronic money by authorized payment institutions. Stablecoins, particularly fiat-backed ones, could conceptually fit some aspects of this definition if they were recognized and licensed, but currently, they are not.

No Specific License: There is no specific licensing regime for stablecoin issuers in Tunisia.

General Prohibition: Any entity seeking to issue or facilitate the use of stablecoins for payment purposes within Tunisia would likely be seen as operating an unauthorized financial service, potentially violating existing laws related to currency issuance and payment services.

BCT Authorization: Under Law 2016-71, any entity providing payment services or issuing electronic money requires explicit authorization from the BCT. It is highly improbable that the BCT would grant such authorization for stablecoin issuance.

No Mandated Rights: Due to the lack of specific regulation, there are no legally mandated redemption rights for stablecoin holders in Tunisia.

None Specified: As stablecoins are not explicitly regulated or authorized, there are no specific reserve requirements for stablecoin issuers under Tunisian law.

Cryptocurrencies are not recognized as legal tender in Tunisia.

Transactions involving cryptocurrencies are not authorized by the BCT.

Exchanges: There is no legal framework allowing the operation of crypto exchanges. Any attempt to operate one would be in violation of the BCT's stance and existing financial laws.

Payment Processors: Companies processing payments in or with cryptocurrencies would face the same regulatory hurdles as exchanges. Traditional payment service provider licenses (issued by the BCT for fiat currencies) would not extend to virtual assets given their non-recognition.

Law No. 2022-77 of December 26, 2022, on Combating Money Laundering and Terrorist Financing (Loi n° 2022-77 du 26 décembre 2022, relative à la lutte contre le blanchiment d'argent et le financement du terrorisme).

Definition of Virtual Assets: The law generally adopts a broad definition consistent with FATF standards, recognizing them as a digital representation of value that can be digitally traded or transferred and used for payment or investment purposes.

Definition of Virtual Asset Service Providers (VASPs): It explicitly includes VASPs as "reporting entities" (or "obliged entities" / "personnes assujetties"). While the law itself may not define all types of VASPs exhaustively, it typically covers entities that conduct one or more of the following activities for or on behalf of another natural or legal person:

Compliance Requirement: Tunisia is legally bound to implement UN Security Council (UNSC) resolutions that impose targeted financial sanctions. These primarily relate to counter-terrorism (e.g., against Al-Qaida, ISIL/Da'esh affiliates) and counter-proliferation of weapons of mass destruction. All financial institutions, including VASPs (once explicitly regulated or by analogy), must freeze assets and prevent funds/services from being made available to designated individuals and entities on the UN Consolidated Sanctions List.

There are no specific capital gains tax rates for cryptocurrencies in Tunisia.

There is no specific income tax regime for income derived from cryptocurrency activities (e.g., mining, staking, trading income, salaries paid in crypto).

Absence of a Legal Framework: There is no specific law or regulation defining cryptocurrencies, digital assets, or the services related to them (including custody).

Official Warnings: The BCT has issued several warnings against the use of cryptocurrencies, citing their speculative nature, lack of legal tender status, volatility, and risks associated with money laundering and terrorist financing. These warnings generally discourage engagement with these assets rather than regulate their operation.