Suriname

## Report: Retail Cryptocurrency Trading Status in Suriname

**Topic:** Retail_Trading_Status
**Description:** Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

---

**1. Current Status:** **Unclear**

**2. Detailed Narrative Explanation:**

The status of retail cryptocurrency trading in Suriname is best described as **Unclear** due to the absence of a specific, comprehensive legal and regulatory framework governing cryptocurrencies, combined with the inclusion of "virtual asset services" within the scope of recent Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) legislation.

Currently, there are no dedicated laws in Suriname that explicitly permit, restrict, or ban the buying, selling, or holding of cryptocurrencies by individuals for personal investment or trading. Cryptocurrencies do not possess official legal status and are not recognized as legal tender [4, 2]. This lack of specific regulation means that retail trading operates in a legal grey area [5].

Despite the absence of a clear legal framework, practical evidence suggests that individuals in Suriname do engage in cryptocurrency trading, often utilizing international exchanges or peer-to-peer (P2P) platforms [3, 6]. The activity is not explicitly prohibited [4, 6]. However, this occurs within an environment lacking specific consumer protection measures tailored to the risks associated with crypto assets [7]. Financial institutions, like banks, may impose their own restrictions on transactions related to cryptocurrency purchases [3].

A significant factor contributing to the "Unclear" status is the **Act of November 19, 2022, establishing rules on the prevention and combating of money laundering and terrorist financing (AML/CFT Law)**. This law includes "virtual asset services" within its scope [11]. It mandates that entities providing such services "in or from Suriname" must perform customer due diligence (CDD), adhere to reporting requirements, and implement risk-based AML/CFT policies [11]. This indicates that *some* regulatory oversight exists, specifically targeting service providers operating domestically under the AML/CFT regime. However, this law does not constitute a comprehensive regulatory framework for the cryptocurrency market itself. It does not address licensing requirements specific to crypto exchanges, market conduct rules, investor protection standards beyond general AML provisions, or the classification of different types of crypto assets.

Furthermore, the broader regulatory environment in Suriname faces challenges. The Caribbean Financial Action Task Force (CFATF) and FATF have previously highlighted significant deficiencies in Suriname's general AML/CFT regime [9, 14], suggesting that even the existing regulations applicable to virtual asset service providers might face implementation hurdles. The government is reportedly working to strengthen its AML/CFT framework [8].

The Central Bank of Suriname (CBvS) has not issued clear, comprehensive guidelines or warnings specifically addressing retail cryptocurrency trading, although it is anticipated that regulations might be developed in the future [7]. There have been discussions about potential future developments, including proposals by a presidential candidate to adopt Bitcoin as legal tender [4, 12, 17] and meetings between the government and international Bitcoin proponents [13, 18], but these remain speculative and do not reflect the current legal reality. Suriname has also previously explored the possibility of a Central Bank Digital Currency (CBDC), which is distinct from regulating private cryptocurrencies [19].

In summary, while retail cryptocurrency trading is not banned and occurs in practice, the lack of specific legislation, absence of official legal status for cryptocurrencies, limited scope of existing regulation (primarily AML/CFT for domestic service providers), and lack of tailored consumer protection create significant legal and regulatory ambiguity. Therefore, the status is best categorized as **Unclear**.

**3. Relevant Text Excerpts:**

*   **On Lack of Specific Regulation/Legal Status:**
    *   "As of now, there is no established cryptocurrency legal framework in Suriname. The country currently has no formal cryptocurrency regulations and cryptocurrency holds no official legal status in its financial system." [4] (Source: UPay Blog, referencing Proelium Law)
    *   "Cryptocurrencies are not regulated by the law in Suriname, and there are no mechanisms to regulate their use or tax the income derived from them." [6] (Source: Medium - Shyft Perspective)
    *   "Currently, Suriname lacks dedicated laws or policies for cryptocurrencies. This means that Pi Network, alongside other cryptocurrencies, exists in a largely unregulated space." [5] (Source: Kotigi.com)
    *   "Currently, there are no dedicated legal frameworks governing cryptocurrencies in Suriname. The Central Bank of Suriname (CBvS) is likely to introduce regulations in the future." [7] (Source: Traders Union)
    *   "Suriname. Undecided. Cryptocurrency has no legal status; No formal cryptocurrency regulation put into place." [2] (Source: Proelium Law LLP)

*   **On Practical Trading:**
    *   "Yes, buying Bitcoin is legal in Suriname. You can safely buy and sell cryptocurrency using a Surinamese crypto exchange. However, many cryptocurrency exchanges aren't regulated in Suriname, as the legislation has yet to catch up..." [3] (Source: Invezz - *Note: The claim of 'legality' seems inferred from lack of prohibition rather than positive law, as the source itself notes lack of regulation.*)
    *   "...trading and investing in crypto assets is possible through P2P and crypto exchanges." [6] (Source: Medium - Shyft Perspective)

*   **On AML/CFT Regulation:**
    *   "Act of November 19, 2022 establishing rules on the prevention and combating of money laundering and terrorist financing... But it also includes new forms of virtual assets, including digital money, also known as crypto currency. Service providers are also expected to periodically evaluate their ML/TF risks... A service provider performs customer due diligence if: a. it enters into a business relationship in or from Suriname; b. it carries out an incidental transaction in or from Suriname..." [11] (Source: National Gazette of the Republic of Suriname 2022, NO. 138 via OAS)
    *   "Cryptocurrencies pose a significant threat to Suriname's Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) efforts... Regulatory frameworks in Suriname are still catching up with the rapid evolution of digital assets, leaving gaps for criminals to exploit." [8] (Source: Global Indian Network)

*   **On Lack of Investor Protection:**
    *   "Due to the absence of regulations, there are no formal investor protection mechanisms for cryptocurrencies in Suriname. If you choose to invest in crypto, exercise extreme caution and choose trusted crypto exchanges." [7] (Source: Traders Union)

**4. Source URLs:**

1.  *(General Time Info - Not directly cited)*
2.  **Proelium Law LLP - Cryptocurrency Regulation Tracker:** `https://www.proeliumlaw.com/crypto-regulation-tracker` (Archived/General Page - Specific Suriname text cited above) - *Note: Direct deep link unavailable from search results.*
3.  **Invezz - Best Exchanges to Buy Bitcoin in Suriname 2025:** `https://invezz.com/buy-bitcoin/suriname/`
4.  **UPay Blog - Crypto Adoption Around the World: Suriname:** `https://upay.co.uk/blog/crypto-adoption-around-the-world-suriname/`
5.  **Kotigi.com - Is Pi Network legal in Suriname?:** `https://www.kotigi.com/is-pi-network-legal-in-suriname/`
6.  **Medium (Shyft Network) - The Shyft Perspective: Crypto Regulations — The South American Way:** `https://medium.com/shyft-network-media/the-shyft-perspective-crypto-regulations-the-south-american-way-3307799b370c`
7.  **Traders Union - Is Binance legal in Suriname?:** `https://tradersunion.com/brokers/crypto/view/binance/is-binance-legal-in-suriname/`
8.  **Global Indian Network - Suriname’s AML/CFT Scams:** `https://globalindiannetwork.com/aml-cft/`
9.  **FATF - Statement on Suriname:** `https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions/Fatf-statement-suriname.html` (Link points to general FATF page, specific statement may be archived or within broader CFATF reports)
10. **TradingOnramp - Suriname's Crypto-Led Crusade Against Corruption:** `https://tradingonramp.com/surinames-crypto-led-crusade-against-corruption/`
11. **Organization of American States (OAS) - Suriname National Gazette 2022, NO. 138 (AML Law):** `https://www.oas.org/es/sla/dlc/mesicic/docs/mesicic_VI_sur_annex_19_eng.pdf`
12. **CryptoTvplus - Suriname Presidential candidate aims to replace central bank with Bitcoin:** `https://cryptotvplus.com/2024/11/suriname-presidential-candidate-aims-to-replace-central-bank-with-bitcoin/`
13. **CryptoRank - Suriname Ponders National Bitcoin Adoption:** `https://cryptorank.io/news/feed/691f0-suriname-ponders-national-bitcoin-adoption`
14. **Sanction Scanner - Major Money Laundering Countries:** `https://sanctionscanner.com/knowledge-base/major-money-laundering-countries-1471`
15. **UNCTAD - Crypto assets and central bank digital currencies potential implications:** `https://unctad.org/system/files/official-document/rp2022d4_en.pdf`
16. **Bit2Me - How to buy Bitcoin... in Suriname:** `https://bit2me.com/global/en/buy-bitcoin/sr`
17. **The Crypto Times - Suriname Candidate Maya Plans to Replace Dollar with Bitcoin:** `https://www.cryptotimes.io/suriname-candidate-maya-plans-to-replace-dollar-with-bitcoin/`
18. **TradingView News - Suriname the next Bitcoin Nation?:** `https://www.tradingview.com/news/cointelegraph:876543819:0-suriname-the-next-bitcoin-nation-crypto-inspires-parbhoe-to-fight-corruption/`
19. **The New Today - Cryptocurrencies, central banks, and the Caribbean:** `https://www.thenewtoday.gd/commentary/cryptocurrencies-central-banks-and-the-caribbean/`
20. **Inter-American Center of Tax Administrations (CIAT) - A look at the regulation of crypto assets:** `https://www.ciat.org/a-look-at-the-regulation-of-crypto-assets/?lang=en`