Niger

The regulatory status of cryptocurrency in Niger is currently classified as a Gray-Zone. This classification is primarily driven by the restrictions imposed by the Central Bank of West African States (BCEAO), which governs monetary policy for the West African Economic and Monetary Union (UEMOA). The BCEAO has maintained a consistent stance since 2018 that cryptocurrencies are not legal tender and has issued warnings regarding their volatility and use in criminal activities. Crucially, the central bank has instructed financial institutions within the union to refrain from holding cryptocurrencies or facilitating transactions related to them. Consequently, while individual ownership is not explicitly criminalized in Niger's penal code, the formal financial sector is effectively walled off from the crypto ecosystem.

Practically, this means that retail traders in Niger cannot use local bank accounts to directly fund cryptocurrency exchange accounts. Instead, activity is driven underground or onto Peer-to-Peer (P2P) platforms where settlement occurs via mobile money or informal cash networks. The absence of a licensing regime for Virtual Asset Service Providers (VASPs) means that no local exchanges exist, and international platforms operate without local oversight. The National Financial Information Processing Unit (CENTIF) monitors financial flows for money laundering, and large unexplained transfers related to crypto trading could theoretically trigger scrutiny under general AML laws.

The regulatory landscape is currently facing a period of profound uncertainty due to geopolitical shifts. Following the military coup in July 2023, Niger, along with Mali and Burkina Faso, formed the Alliance of Sahel States (AES) and announced their intention to withdraw from ECOWAS and potentially the CFA franc zone. This political rupture raises questions about the continued applicability of BCEAO directives. While the BCEAO rules remain the *de facto* legal standard until a new monetary framework is established, the AES bloc has signaled a desire for monetary sovereignty. This has led to speculation that the junta could eventually embrace cryptocurrencies or a state-backed digital currency to circumvent international sanctions and liquidity squeezes, although no such law has been enacted to date.

Enforcement in Niger is currently focused more on capital controls and regime stability than on policing retail crypto trading. However, the lack of consumer protection is absolute; in the event of exchange collapse or fraud, Nigerien citizens have no legal recourse. The situation is precarious: if the AES launches a new currency, the entire financial rulebook, including the status of digital assets, will likely be rewritten. Until then, traders operate in a tolerated but restricted environment where banking access is blocked, but possession is not a crime.