AFRICA

Africa is one of the fastest-growing cryptocurrency markets globally, driven by increasing adoption, peer-to-peer transactions, and a young, tech-savvy population. However, the regulatory environment remains fragmented, with Nigeria, South Africa, Botswana, Namibia, Mauritius and Zambia having already established regulatory frameworks. Kenya and Rwanda have drafted virtual assets legislation pending enactment with Ghana, Ethiopia and Uganda exploring the development of VASP frameworks.

The next two years will be pivotal as these nations finalise their regulatory approaches, presenting opportunities to engage with regulators and shape the future of digital assets on the continent. It is worthwhile to note given that the virtual assets industry is rapidly evolving the aforementioned countries with established frameworks are actively involved in regulatory refinements on a continuous basis. This provides an opportunity for continuous regulatory engagement to ensure the policy and regulatory frameworks remain business friendly.