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Is crypto legal in Zambia? Rules & regulation (2026)

Crypto is developing in Zambia.

Zambia has no comprehensive cryptocurrency legislation as of mid-2026. The Bank of Zambia does not recognise crypto as legal tender and prohibits licensed financial institutions from processing crypto transactions, while the Securities and Exchange Commission evaluates digital assets case-by-case under the Securities Act. The BoZ 2024-2027 Strategic Plan and active regulatory-technology sandbox testing signal a planned transition to a formal licensing regime.

Last verified Official sources first · MethodologyCompare Zambia with other countries

Legal framework

No dedicated virtual-asset law in force; Bank of Zambia Act (Cap 360), Securities Act No. 41 of 2016 (as amended by Act No. 21 of 2022), Anti-Money Laundering Act, and Financial Intelligence Centre Act applied on an ad-hoc basis; BoZ 2024-2027 Strategic Plan commits to a purpose-built crypto and stablecoin regulatory framework

Status by sub-area

  • Stablecoins

    None

    No stablecoin-specific regulation—covering issuance, reserve backing, redemption rights, or capital requirements—exists in Zambia as of mid-2026. The BoZ 2024-2027 Strategic Plan names stablecoins as an area requiring a dedicated framework, but no rules have been enacted.

    Still pending: Stablecoin regulatory framework named in BoZ 2024-2027 Strategic Plan but not yet enacted

  • Exchanges / VASP

    Partial

    No formal VASP licensing regime with capital, conduct, or local-presence rules exists. VASPs are nonetheless required to comply with AML/CFT obligations as designated reporting entities under the Financial Intelligence Centre Act; a full licensing model is targeted under the BoZ Strategic Plan.

    Still pending: Full VASP licensing model targeted in BoZ Strategic Plan but not yet enacted

  • Token Offerings

    Partial

    There is no bespoke ICO or STO regime. The SEC Zambia assesses each token on a case-by-case basis under the Securities Act No. 41 of 2016 to determine whether prospectus or registration requirements apply; no blanket exemption or safe harbour has been published.

    Still pending: Bespoke ICO/STO regime and published safe harbour not yet enacted

  • Custody

    None

    Zambia has no enacted rules on digital-asset custody covering client-asset segregation, qualified-custodian status, proof of reserves, or insurance requirements. Only general AML/CFT reporting obligations imposed by the FIC apply to entities that hold client crypto.

    Still pending: Digital-asset custody rules not yet enacted; only general AML/CFT applies

  • DeFi

    None

    No regulatory framework or public guidance specific to decentralised finance exists in Zambia as of mid-2026. Neither the Bank of Zambia, the SEC, nor the Financial Intelligence Centre has addressed DeFi protocols, front-end operators, DAO treatment, or decentralised exchange activity.

    Still pending: DeFi regulatory framework and guidance not yet issued

  • Tax

    Unclear

    The Zambia Revenue Authority has issued no guidance on the tax treatment of crypto disposals, staking rewards, mining income, or airdrops. Because crypto is not legal tender, VAT applicability is unresolved; income and capital-gains treatment remain absent from any official publication as of mid-2026.

    Still pending: Crypto tax guidance (capital gains, mining, staking, airdrops, VAT) not yet issued

Key points: crypto & digital assets in Zambia

  1. Not Legal Tender; FI Ban

    The Bank of Zambia has issued a formal press release stating cryptocurrencies are not legal tender and that licensed financial institutions are prohibited from facilitating crypto-related transactions.

    boz.zm

  2. SEC Case-by-Case Assessment

    The Securities and Exchange Commission of Zambia issued a public notice stating that crypto-assets are not regulated by the Commission unless they meet the definition of a security under the Securities Act No. 41 of 2016; each product is assessed on its specific characteristics, features, and uses.

    seczambia.org.zm

  3. BoZ 2024-2027 Strategic Plan

    The Bank of Zambia's seventh Strategic Plan (launched April 2024, theme: 'Promoting Inclusive and Sustainable Development in a Digitalised World') explicitly targets development of a regulatory framework for crypto assets and stablecoins.

    boz.zm

  4. Regulatory Technology Testing

    From 2023, Zambia's Ministry of Technology and Science, the Bank of Zambia, and the SEC jointly began testing blockchain-based regulatory technology; initial phase completion was targeted for mid-2024.

    mariblock.com

  5. FIC AML/CFT Obligations

    The Financial Intelligence Centre designates virtual asset activities as falling within AML/CFT reporting obligations under the Anti-Money Laundering Act; entities handling virtual assets must file suspicious transaction reports.

    fic.gov.zm

  6. FATF Evaluation Cycle

    Zambia is scheduled for a FATF mutual evaluation in 2027/2028 and commenced a second-round National Risk Assessment in 2024 with the FIC as lead coordinator, elevating AML/CFT compliance urgency for VASPs.

    fatf-gafi.org fic.gov.zm

Sources

  1. boz.zm/PRESS-RELEASE-ON-CRYPTOCURRENCIES.pdf
  2. seczambia.org.zm/notice-on-crytocurrencies/
  3. boz.zm/about/strategic-plan.htm
  4. fic.gov.zm/79-fic-news/108-virtual-assets
  5. fatf-gafi.org/en/countries/detail/Zambia.html
  6. mariblock.com/zambia-to-finish-testing-cryptocurrency-regulatory-technology-by-mid-
  7. fic.gov.zm/79-fic-news/124-trends-report-2024

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Orientation, not legal advice: verify against the primary sources linked above. Last verified 24 May 2026. Methodology & how to cite · State of Technology Regulation 2026