## Report: Retail Cryptocurrency Trading Status in The Gambia

**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).

---

### Retail_Trading_Status: Unclear

**1. Identified Current Status:** Unclear

**2. Detailed Narrative Explanation:**

The status of retail cryptocurrency trading in The Gambia is best described as "Unclear" due to a lack of specific legislation or definitive official pronouncements explicitly permitting, regulating, or banning the activity for individual citizens and residents. While there is no outright ban on record, the Central Bank of The Gambia (CBG) has issued warnings regarding the risks associated with cryptocurrencies, and the existing regulatory framework for financial services does not specifically address digital currencies.

The CBG has maintained a cautious stance towards financial innovations that could pose risks to monetary policy, financial stability, and consumer protection. In the absence of a clear regulatory framework, individuals engaging in cryptocurrency trading in The Gambia likely do so in an environment with significant legal and financial uncertainties.

There is no evidence of a licensed or regulated cryptocurrency exchange operating within The Gambia. The Financial Intelligence Unit (FIU) acknowledges that virtual assets fall under the broad definition of 'property' within the 2012 Anti-Money Laundering Act, implying that AML/CFT obligations could theoretically apply. However, the FATF's 2022 Mutual Evaluation Report noted that The Gambia had not yet conducted a risk assessment for virtual assets or implemented a licensing regime for Virtual Asset Service Providers (VASPs). This absence of specific regulation means there are no licensed local exchanges, and consumer protection mechanisms are non-existent.

The Gambia Revenue Authority (GRA) currently does not tax cryptocurrency gains, as the existing Income and Value Added Tax Act of 2012 does not explicitly define digital assets as taxable property. This effectively creates a tax-free environment for retail traders, although this is likely due to a lag in legislative updates rather than a deliberate policy choice.

Operationally, major global platforms and peer-to-peer (P2P) markets are accessible, indicating the banking sector has not been ordered to systematically block all crypto-linked transfers. However, the CBG has emphasized that the Dalasi is the only legal tender for goods and services, warning against the dollarization of the economy.

Therefore, while individuals might be able to access international cryptocurrency platforms, they do so without a clear legal or regulatory safety net within The Gambia, placing the activity in an "Unclear" status. Further clarification from the Central Bank of The Gambia or other relevant regulatory bodies would be needed to shift this status.

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

*   **Source:** FATF Mutual Evaluation Report of The Gambia (2022)
    *   **Excerpt Summary:** "The Gambia's definition of 'property' is broad enough to cover virtual assets... [however] The Gambia has not identified and assessed the ML/TF risks emerging from virtual assets."
*   **Source:** Central Bank of The Gambia (Public Notice, December 2021)
    *   **Excerpt Summary:** The Central Bank of The Gambia has previously issued public notices warning citizens about the risks associated with investing in cryptocurrencies, citing their volatility, lack of legal tender status, and potential for use in illicit activities. These notices generally advise caution.
*   **Source:** Gambia Financial Intelligence Unit - AML Act 2012
    *   **Excerpt Summary:** "Property means assets of every kind, whether corporeal or incorporeal, movable or immovable, tangible or intangible."

**4. Direct, Accessible URL Links:**

*   **Central Bank of The Gambia Website (for official notices and publications):** [https://www.cbg.gm](https://www.cbg.gm)
*   **FATF Mutual Evaluation Report of The Gambia (2022):** [https://www.fatf-gafi.org/en/publications/Mutualevaluations/Mer-the-gambia-2022.html](https://www.fatf-gafi.org/en/publications/Mutualevaluations/Mer-the-gambia-2022.html)
*   **Gambia Financial Intelligence Unit - AML Act 2012:** [https://www.fiu.gov.gm](https://www.fiu.gov.gm)

---

**Disclaimer:** This report is based on the information available up to the knowledge cut-off date and publicly accessible data. The regulatory landscape can change rapidly, and direct consultation with Gambian financial authorities or legal professionals specializing in the region is recommended for the most current and definitive advice.