Central African Republic Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Key Regulator(s)

National Agency for the Regulation of Virtual Assets, Ministry of Finance and Budget, Ministry of Digital Economy, Banking Commission of Central Africa

Primary Legislation

Law No. 22.006 of April 27, 2022, on the Regulation of Cryptocurrencies in the C, The 2022 law initially made Bitcoin legal tender in Central African Republic, bu, BEAC Regulation No. 01/17/CEMAC/UMAC/CM of March 30, 2017, on the Prevention and, This regulation provides the comprehensive AML/CFT framework for financial insti, This regulation covers customer due diligence, suspicious transaction reporting,, This is the general national AML/CFT law in CAR. While the BEAC regional regulat, national agency for the regulation of virtual assets., The Law No. 22.006 of April 27, 2022, provides for the establishment of a nation, like the BEAC Regulation, Law No. 22.001 concerning the regulation of cryptocurrencies in the Central Afri, Law No. 22.015 of 27 June 2022 on the tokenization of natural resources, land, a, shortly after CAR's Bitcoin law, News reports confirm the directive, CAR National Law

Travel Rule

Not adopted

Tax Reporting

Law N° 22.001 of April 27, 2022, concerning the establishment of the legal framework for the use of cryptocurrency in the Central African Republic. This law designates Bitcoin as legal tender alongside the CFA franc.. Implication: This law establishes Bitcoin's status as money. However, it does not provide a detailed tax framework for various crypto-related activities. Consequently, the general tax code of the CAR (Code Général des Impôts) is expected to apply, interpreted through the lens of Bitcoin being legal tender.. Bitcoin (as legal tender): If Bitcoin is treated as legal tender, gains derived purely from holding and then transacting with Bitcoin would generally not be subject to capital gains tax, similar to how one would not pay CGT on converting CFA francs to USD and back, or on simply holding CFA francs. Capital gains tax typically applies to assets sold for profit, not to the currency itself when it functions as a medium of exchange.. Other Cryptocurrencies/Virtual Assets: For cryptocurrencies other than Bitcoin, the situation is less clear. They would likely be considered intangible movable property. If classified as such, any gains derived from their sale or exchange could theoretically be subject to capital gains tax under the general tax code, if such a tax is applicable to intangible assets for individuals or specific business activities. However, the specific rates and applicability for individuals are not explicitly defined for digital assets.. General CGT for Businesses/Investment: For businesses, gains from the disposal of assets (including potential intangible assets like non-Bitcoin cryptos if they are part of a business's portfolio) are typically integrated into corporate income and taxed at the corporate income tax rate.

Key Facts

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