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Which African country has the most crypto-friendly regulation right now?
The answer is straight up Mauritius, followed closely by South Africa.
They introduced one of Africa's earliest comprehensive digital asset frameworks, their VAITOS Act of 2021, years before most African countries even started drafting legislation.
They've already issued stablecoin guidance and are working on a more comprehensive stablecoin framework.
So far, we can say they have the first mover advantage in the continent.
The reason being, their regime is FATF aligned, and as a result, licensed companies gain instant credibility.
They have very friendly license fees, especially for startups with prices ranging from $1000 to $5000.
License processing in Mauritius also takes just 2-4 months, which is quite friendly compared to other African countries.
Also, a crypto business operating from Mauritius pays no capital gains tax on any crypto appreciation.
(In Kenya they have to pay 15%. For Nigeria , it's between 15-18%)
Is crypto in Mauritius underregulated, or is it overregulated in the other countries?
Big question today.