---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "africa_south", "esaamlg", "restricted"]
aliases: ["SZ", "SWZ", "eSwatini"]
created: 2026-06-01
updated: 2025-01-01
compile_into: ["[[country--eswatini]]"]
sources:
  - name: "Central Bank of Eswatini"
    url: "https://www.centralbank.org.sz"
    type: "official"
---

# 🇸🇿 [[country--eswatini|Eswatini]] (SZ) — Crypto Regulation

> Cryptocurrency is unregulated in Eswatini. The CBE has issued public warnings about risks (volatility, fraud, no consumer protection) and states that crypto has no legal tender status. Both the CBE and the Financial Services Regulatory Authority (FSRA) have cautioned the public. No crypto licensing framework exists. CBDC research (Digital Lilangeni project) was completed but CBE decided not to proceed with issuance.

## Overview

| Field | Value |
|-------|-------|
| Status | Restricted |
| Risk Score | 55/100 (High Risk) |
| Enforcement Level | None |
| Region | [[domain--africa|africa south]] |
| Currency | [[entity--szl|SZL]] |

## Tax

| Type | Rate |
|------|------|
| Capital Gains (Personal) | No specific guidance |
| Capital Gains (Corporate) | No specific guidance |
| VAT on Crypto | No |
| Mining Tax | No specific guidance |
| Staking Tax | No specific guidance |
| Airdrop Tax | No specific guidance |

No crypto-specific tax guidance.

## Licensing

| Field | Value |
|-------|-------|
| Required | No |
| Regulator | [[entity--cbe|CBE]] |
| Framework | No crypto framework |
| Ease | N/A |
| Cost | N/A |
| Timeline | N/A months |

No crypto licensing framework.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | No |
| Travel Rule | No |
| FATF Member | No |
| FATF Status | partially_compliant |

## DeFi

**Status:** Unclear

No regulation.

## Stablecoins

**Status:** no_rules

No framework.

## NFTs

**Status:** no_rules

No regulation.

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.06/kWh |
| Renewable Energy | 15% |
| Climate | tropical |
| Infrastructure | fair |

Electricity cost is relatively low, but mining infrastructure is limited. No explicit mining regulations found.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | moderate |
| Sanctions | No |
| Corruption Index | 33/100 |
| Ease of Business | moderate |
| Internet Freedom | partly_free |
| Banking Access | moderate |

## Enforcement

No known enforcement actions.

## CBDC Status: research_abandoned

## FAQ

### Is cryptocurrency legal in Eswatini?

Cryptocurrency is unregulated in Eswatini. The CBE has issued public warnings about risks (volatility, fraud, no consumer protection) and states that crypto has no legal tender status. Both the CBE and the Financial Services Regulatory Authority (FSRA) have cautioned the public. No crypto licensing framework exists. CBDC research (Digital Lilangeni project) was completed but CBE decided not to proceed with issuance.

### What is the FATF status of Eswatini?

Eswatini is classified by FATF as: partially_compliant.

### What is the AML/KYC regime in Eswatini?

KYC is not universally mandated.

---

*Data source: [Soken Crypto Legal Map](https://soken.dev/crypto-map/). Last reviewed: 2026-06-01.*

**Sources:**
- [Central Bank of Eswatini](https://www.centralbank.org.sz)