Crypto & Digital Assets · Namibia
Is crypto legal in Namibia? Regulation & rules (2026)
Namibia shaded by its crypto & digital assets status
Namibia enacted the Virtual Assets Act (Act No. 10 of 2023) in July 2023, becoming one of the first African nations to formally regulate virtual assets and repeal an earlier de facto ban. The Bank of Namibia was designated as the principal regulator, with NAMFISA administering a two-stage (provisional then operational) licensing regime for VASPs; as of mid-2025 only provisional authorisations have been issued and no full operational licences had yet been granted. Crypto is not recognised as legal tender, and the broader implementation — including detailed rules on stablecoins, custody prudential standards and tax guidance — remains in progress.
Key points
Act No. 10 of 2023 was signed into law on 25 July 2023, creating Namibia's first bespoke legal framework for virtual assets and Virtual Asset Service Providers (VASPs), covering exchanges, custody, token offerings, wallet services and advisory activities.
On 13 January 2025, the Bank of Namibia granted provisional authorisations to Mindex Virtual Asset Exchange (Pty) Ltd and Landifa Bitcoin Trade CC, valid for six months with conditions; the firms cannot serve the public until full operational licences are granted. Extensions into late 2025 were requested by some applicants.
The Bank of Namibia has consistently stated that cryptocurrencies have no legal tender status in Namibia and are not recognised as a payment system, notwithstanding the regulatory framework created by the Act.
The Act imposes FATF-aligned AML/CFT obligations on VASPs, including the Travel Rule for transactions exceeding NAD 20,000 (~USD 1,000), requiring collection and transmission of originator and beneficiary information. Non-compliance attracts fines up to NAD 10 million and up to 10 years' imprisonment.
An IMF technical assistance mission in early 2024 helped the Bank of Namibia establish a feasibility study and roadmap for a retail central bank digital currency (rCBDC); CBDCs are explicitly excluded from the definition of 'virtual assets' under the Act.
The Virtual Assets Act introduces taxability of crypto transactions, but Namibia has no standalone capital gains tax; gains are likely treated as ordinary income under the Income Tax Act. The Namibia Inland Revenue has not yet issued dedicated crypto tax guidance, leaving reporting obligations unclear in practice.
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