Mauritania

Mauritania presents a unique regulatory environment in the West African region, characterized by a 'cautiously progressive' stance rather than the restrictive bans seen in some neighboring jurisdictions. As of late 2025, there is no specific legislation that criminalizes the possession or trading of cryptocurrencies. Retail investors can access international exchanges, and there are no systemic reports of government crackdowns on individual traders. The legal status is best described as 'Allowed-UnRegulated' because while the activity is permitted, it falls outside the specific purview of the current financial licensing regime.

The Central Bank of Mauritania (BCM) serves as the primary financial regulator. Unlike many peers, the BCM has not issued hostile warnings against Bitcoin or private cryptocurrencies. Instead, the BCM has focused its digital strategy on modernizing the national payment system and exploring a Central Bank Digital Currency (CBDC). In April 2024, the BCM partnered with Giesecke+Devrient to design a potential digital version of the national currency, the Ouguiya, signaling a strategic interest in blockchain-based financial infrastructure.

In November 2025, the Ministry of Digital Transformation (MTNIMA) took a significant step by initiating a 'National Blockchain Policy'. This initiative, developed in consultation with international bodies like the UN ESCWA, aims to integrate blockchain into public services and create an attractive environment for digital finance investors. This move suggests that future regulation will likely be enabling rather than prohibitive, potentially moving the country toward a regulated framework in the coming years.

Despite the positive outlook, practical challenges remain for retail traders. The 'Law No. 2021-017 on Electronic Payment Services' regulates digital fiat providers but does not explicitly cover virtual asset service providers (VASPs). Consequently, crypto exchanges operate without local licenses, and users do not benefit from specific statutory protections. Furthermore, while there is no official banking ban, individual financial institutions may still view crypto transactions as high-risk and block payments to foreign exchanges to comply with general AML/CFT obligations.