Cryptocurrency activities are banned in Yemen, with the Central Bank of Yemen prohibiting unlicensed crypto entities, wallets, and e-payment services as of June 2024.
| Status | Banned |
| Risk Score | 100/100 (Very High Risk) |
| Region | middle east |
| Currency | YER |
| Capital Gains (Personal) | N/A |
| Capital Gains (Corporate) | N/A |
| VAT on Crypto | No |
| Staking Tax | N/A |
| Airdrop Tax | N/A |
No crypto-specific tax guidance available.
| Required | No |
| Regulator | CBY |
| Framework | CBY prohibition via circular on unlicensed crypto entities/wallets/e-payment services (June 2024) |
| Ease | very_complex |
No detailed enforcement information available
| KYC Required | No |
| Travel Rule | No |
| FATF Member | Yes |
| FATF Status | grey_list |
| FATF Body | MENAFATF |
| Suspicious-Activity Reporting | No |
Status: Banned
Status: Banned
Status: Banned
| Legal | No |
| Electricity Cost | $0.025/kWh |
| Renewable Energy | 2% |
| Infrastructure | poor |
Crypto mining is banned in Yemen. Electricity costs are low but infrastructure is poor and the climate is arid, posing challenges for mining operations.
| Stability | very_unstable |
| Sanctions | Yes |
| Corruption Index | 15/100 |
| Banking Access | very_restricted |
| Sanctions Program Active | Yes |
Risk Factors
Yemen remains highly unstable due to ongoing civil conflict, extensive sanctions, and poor infrastructure, making it a high-risk environment for crypto businesses.
Recent Political Events
Cryptocurrency activities are banned in Yemen, with the Central Bank of Yemen prohibiting unlicensed crypto entities, wallets, and e-payment services as of June 2024.
Yemen is classified by FATF as: grey_list.
KYC is not universally mandated.
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