Gambia Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

Central Bank of The Gambia, Ministry of Justice

Primary Legislation

the absence of regulation governing its issuance and usage, The Capital Markets Act, 2011: This is the primary legislation governing securit

Travel Rule

Not adopted

Tax Reporting

Current Law: The Gambia does not have a separate Capital Gains Tax Act for individuals on most assets. Capital gains are generally taxed under the Income Tax Act if they arise from a trade or business, or from the disposal of specific types of assets like real estate or shares in a company.. Application to Crypto:. If an individual acquires and disposes of cryptocurrency as a speculative investment (i.e., not within the scope of a business), it is generally unlikely to be subject to capital gains tax in The Gambia, similar to gains from other movable personal property.. However, if an individual is involved in frequent trading of cryptocurrency to the extent that it constitutes a "business" or "adventure in the nature of trade" (a factual determination), any profits derived could be subject to income tax at their individual income tax rates (see "Income Tax" section below).. For Businesses: If a business holds and disposes of cryptocurrency, any gains realized would likely be treated as part of the business's taxable income and subject to corporate income tax rates.

Key Facts

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