Côte d'Ivoire

**Report on the Current Status of Retail Cryptocurrency Trading in Côte d'Ivoire**

**Date:** 2025-06-26

**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. Identified Current Status:**

Gray-Zone

**2. Detailed Narrative Explanation:**

The status of retail cryptocurrency trading in Côte d'Ivoire is best described as a "Gray-Zone." This is because while there are no specific laws explicitly prohibiting or formally regulating the buying, selling, and holding of cryptocurrencies by individual citizens and residents, the activity exists in an environment of legal ambiguity and caution from regional and national authorities.

Côte d'Ivoire is a member of the West African Economic and Monetary Union (WAEMU). The Central Bank of West African States (BCEAO) serves as the common central bank for the eight member states, including Côte d'Ivoire. The BCEAO has not issued a specific ban on cryptocurrencies but has expressed cautionary stances regarding the risks associated with them. There is no overarching, specific regulatory framework for cryptocurrencies at either the national or regional WAEMU level.

In practice, Ivorians are engaging with cryptocurrencies, and exchanges are accessible. However, these exchanges operate without specific local licenses for cryptocurrency trading, as such a licensing regime does not currently exist. Some sources suggest that crypto exchanges should comply with international standards, including Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, although the direct application and enforcement of these within a crypto-specific context in Côte d'Ivoire is not clearly defined by local law.

A 2023 report by the IMF noted that Virtual Asset Service Providers (VASPs) are active in Côte d'Ivoire but are not licensed, regulated, or supervised due to the absence of a relevant legal framework. This lack of a specific framework means that while not illegal, retail crypto trading operates outside of dedicated regulatory oversight.

The regional financial market regulatory authority, the Autorité des Marchés Financiers de l’Union Monétaire Ouest Africaine (AMF-UMOA), formerly CREPMF, has indicated that companies dealing with crypto-assets, particularly those involving public offerings, may require prior authorization. However, this is more targeted at companies and public offerings rather than individual retail trading and holding.

While general financial laws and AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) regulations apply, their specific extension and interpretation for cryptocurrencies remain underdeveloped. The BCEAO has focused on regulating electronic money (e-money), which is distinct from cryptocurrencies.

The term "Gray-Zone" accurately reflects this situation where retail cryptocurrency trading is not explicitly illegal, allowing individuals to participate, but it lacks a dedicated regulatory framework, clear consumer protection mechanisms specific to crypto, and official endorsement, placing it in a state of legal uncertainty.

**3. Specific, Relevant Text Excerpts:**

*   **UEEx Technology (2025):** "Crypto exchanges operate in a legal gray area in Côte d'Ivoire. While there are no specific laws prohibiting their use, the country does not have formal regulations governing cryptocurrencies. The Central Bank of West African States (BCEAO) has cautioned against the risks associated with digital currencies but has not outright banned them. As a result, individuals can use crypto exchanges, but it's essential to choose platforms that comply with international standards and offer robust security features to protect assets."
*   **Proelium Law LLP (Date of access: June 2025):** "Côte d'Ivoire. Undecided. No legal status for cryptocurrencies. There is no cryptocurrency regulation."
*   **WTS Global (April 2025, regarding WAEMU, of which Côte d'Ivoire is a member):** "No regulation for crypto-assets. Cryptocurrencies are therefore not legal tender in WAEMU. Their use therefore falls within the scope of freedom of contract."
*   **IMF (August 2023):** "There are active VASPs in Côte d'Ivoire. However, they are neither licensed, nor regulated, nor supervised, in the absence of a relevant legal framework." And further, "The authorities' understanding of risks associated with legal persons remains quite limited and fragmented... Côte d'Ivoire has not undertaken an assessment of ML/TF risks associated with the various categories of legal persons." (While this refers to legal persons, the lack of a framework impacts the entire VASP ecosystem).
*   **AfricLaw (July 2022, regarding WAEMU):** "At the regional level, notably in CEMAC and WAEMU, the situation is somewhat chiaroscuro: In both regions, the financial market regulatory authorities...require cryptocurrencies companies to obtain prior authorisation before any exercise of activities relating to crypto assets insofar as the proposed offers have a link with public offering transactions." This highlights some regulatory attention at the regional level, but primarily for companies and public offerings, not explicitly individual retail trading.
*   **BYDFi (Undated, but accessed June 2025):** "To operate a cryptocurrency exchange in Ivory Coast, you need to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. These regulations require exchanges to verify the identity of their users and report suspicious transactions." (It is important to note that while this is stated, the specific legal basis for applying these directly to crypto exchanges in Côte d'Ivoire, absent a dedicated crypto regulatory framework, is not explicitly detailed in primary legal sources from Côte d'Ivoire itself).

**4. Direct, Accessible URL Links to Specific Sources:**

*   **UEEx Technology (2025):** [https://www.ueex.com/blog/best-crypto-exchanges-in-cote-divoire-2025-b2099/](https://www.ueex.com/blog/best-crypto-exchanges-in-cote-divoire-2025-b2099/)
*   **Proelium Law LLP:** [https://www.proeliumlaw.com/crypto-regulation-tracker/](https://www.proeliumlaw.com/crypto-regulation-tracker/)
*   **WTS Global (Togo, with WAEMU context):** [https://wts.com/global/insights/expert-articles/2025/20250407-togo-exchange-control-insights?language=en](https://wts.com/global/insights/expert-articles/2025/20250407-togo-exchange-control-insights?language=en)
*   **IMF (August 2023):** [https://www.imf.org/en/Publications/CR/Issues/2023/08/23/Cote-dIvoire-Detailed-Assessment-Report-for-Anti-Money-Laundering-and-Combating-the-538357](https://www.imf.org/en/Publications/CR/Issues/2023/08/23/Cote-dIvoire-Detailed-Assessment-Report-for-Anti-Money-Laundering-and-Combating-the-538357)
*   **AfricLaw (July 2022):** [https://www.africlaw.com/2022/07/21/regulating-cryptocurrencies-in-the-central-african-republic-has-the-cart-been-put-before-the-horse/](https://www.africlaw.com/2022/07/21/regulating-cryptocurrencies-in-the-central-african-republic-has-the-cart-been-put-before-the-horse/)
*   **BYDFi:** [https://www.bydfi.com/en-US/fqa/europe-africa-crypto-tax-regulation/what-are-the-regulations-for-cryptocurrency-exchanges-in-ivory-coast](https://www.bydfi.com/en-US/fqa/europe-africa-crypto-tax-regulation/what-are-the-regulations-for-cryptocurrency-exchanges-in-ivory-coast)
*   **WTS Global (Côte d'Ivoire):** [https://wts.com/global/insights/expert-articles/2025/20250404-cote-divoire-exchange-control-insights?language=en](https://wts.com/global/insights/expert-articles/2025/20250404-cote-divoire-exchange-control-insights?language=en)
*   **Crowdfund Insider (August 2018):** [https://www.crowdfundinsider.com/2018/08/137493-cryptocurrency-regulation-in-africa/](https://www.crowdfundinsider.com/2018/08/137493-cryptocurrency-regulation-in-africa/)
*   **World Bank Documents & Reports (BCEAO e-money context):** [https://documents.worldbank.org/en/publication/documents-reports/documentdetail/189581495201638272/regulatory-framework-for-digital-financial-services-in-cote-divoire-a-diagnostic-study](https://documents.worldbank.org/en/publication/documents-reports/documentdetail/189581495201638272/regulatory-framework-for-digital-financial-services-in-cote-divoire-a-diagnostic-study)
*   **CGAP (BCEAO e-money context):** [https://www.cgap.org/research/publication/bceao-banque-centrale-des-etats-de-lafrique-de-louest-central-bank-8-countries](https://www.cgap.org/research/publication/bceao-banque-centrale-des-etats-de-lafrique-de-louest-central-bank-8-countries)