Regulator: Central African Banking Commission (COBAC); Bank of Central African States (BEAC); Central African Financial Market Supervisory Commission (COSUMAF); National Financial Intelligence Unit (ANIF)
Cameroon operates under COBAC Decision D-2022/071 (May 2022), a live regulatory prohibition that comprehensively bans all regulated financial institutions from facilitating cryptocurrency transactions of any kind. This blanket prohibition applies equally to all stablecoin types (fiat-backed, crypto-backed, commodity-backed, and algorithmic) without distinction. While COSUMAF (the financial market supervisor) issued general virtual asset service provider regulations in July 2022 and May 2023, these focus on licensing and supervision of VASPs but do not create exemptions for stablecoin issuance.
The BEAC (central bank) has consistently opposed cryptocurrency adoption to protect the CFA franc and monetary policy autonomy. The regulatory environment permits no institutional pathways for stablecoin use; personal ownership remains technically legal but disconnected from the formal financial system. Recent 2025 BEAC digital payment modernization rules do not address stablecoins.
Applicable Laws:
Decision COBAC D-2022/071 relating to the Holding, Use, Exchange and Conversion of Cryptocurrencies or Crypto-Assets by Institutions Subject to COBAC - https://www.chazai-wamba.com/en/news/brief-info-cobac/
Regulation No. 01/22/CEMAC/UMAC/CM/COSUMAF on the Organization and Functioning of the Financial Market in Central Africa - https://cosumaf.org/wp-content/uploads/2023/07/Reglment-no-01-Portant-Organisation-et-Fonctionnement-du-Marche-Financier-de-lAfrique-Centrale-compressed.pdf
