Regulator: Central African Banking Commission (COBAC); Bank of Central African States (BEAC); Central African Financial Market Supervisory Commission (COSUMAF); National Financial Intelligence Unit (FIU)
Operates under the same COBAC-enforced prohibition on all cryptocurrency transactions by regulated institutions. COBAC Decision D-2022/071 (May 2022) comprehensively bans stablecoins of all types (fiat-backed, crypto-backed, commodity-backed, and algorithmic) from institutional use. The BEAC's stance against cryptocurrency adoption applies uniformly, with no regulatory exemptions for 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
