Namibia regulates virtual assets under the Virtual Assets Act 10 of 2023 (effective 25 July 2023), with the Bank of Namibia designated as the Regulatory Authority. VASPs must obtain a licence from the Bank of Namibia. Cryptocurrency is not legal tender but is legal to trade via licensed providers. Banking sector still applies restrictions on crypto transactions in practice. First provisional licences were issued in January 2025.
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Region | africa south |
| Currency | NAD |
| VAT on Crypto | No |
| Required | Yes |
| Regulator | BON |
| Framework | Virtual Assets Act 2023 |
| Ease | medium |
Licensing is required under the Virtual Assets Act 2023, with a moderate process to obtain authorization for crypto service providers.
BON warnings issued.
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | grey_list |
| FATF Body | ESAAMLG |
| Suspicious-Activity Reporting | Yes |
Status: Restricted
DeFi activities are restricted under current regulations, with oversight to prevent unregulated financial risks.
Status: regulated
Stablecoins are regulated under the Virtual Assets Act 2023, requiring compliance with financial regulations.
Status: no_rules
No regulation.
| Legal | Yes |
| Electricity Cost | $0.08/kWh |
| Renewable Energy | 15% |
| Infrastructure | fair |
Mining is allowed but under restrictions; infrastructure is fair with moderate renewable energy usage.
| Stability | stable |
| Sanctions | No |
| Corruption Index | 52/100 |
| Banking Access | moderate |
Risk Factors
Namibia is politically stable with no international sanctions. On the FATF grey list as of February 2024, still listed as of February 2026. Banks restrict crypto transactions despite Virtual Assets Act. Credendo upgraded medium/long-term political risk to category 5/7. No OFAC, EU, or UN sanctions.
Namibia regulates virtual assets under the Virtual Assets Act 10 of 2023 (effective 25 July 2023), with the Bank of Namibia designated as the Regulatory Authority. VASPs must obtain a licence from the Bank of Namibia. Cryptocurrency is not legal tender but is legal to trade via licensed providers. Banking sector still applies restrictions on crypto transactions in practice. First provisional licences were issued in January 2025.
Namibia is classified by FATF as: grey_list.
Yes, licensing is required for VASPs.
KYC is mandatory for crypto businesses.
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Explore IT Services →Last reviewed: 2026-06-01 · Data source: Soken Crypto Legal Map
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