Is crypto legal in Zambia? Regulation & rules (2026)

The Bank of Zambia has issued a formal press release stating cryptocurrencies are not legal tender and that licensed financial institutions are prohibited from facilitating crypto-related transactions.

The Securities and Exchange Commission of Zambia issued a public notice stating that crypto-assets are not regulated by the Commission unless they meet the definition of a security under the Securities Act No. 41 of 2016; each product is assessed on its specific characteristics, features, and uses.

The Bank of Zambia's seventh Strategic Plan (launched April 2024, theme: 'Promoting Inclusive and Sustainable Development in a Digitalised World') explicitly targets development of a regulatory framework for crypto assets and stablecoins.

From 2023, Zambia's Ministry of Technology and Science, the Bank of Zambia, and the SEC jointly began testing blockchain-based regulatory technology; initial phase completion was targeted for mid-2024.

The Financial Intelligence Centre designates virtual asset activities as falling within AML/CFT reporting obligations under the Anti-Money Laundering Act; entities handling virtual assets must file suspicious transaction reports.

Zambia is scheduled for a FATF mutual evaluation in 2027/2028 and commenced a second-round National Risk Assessment in 2024 with the FIC as lead coordinator, elevating AML/CFT compliance urgency for VASPs.