The Bank of Namibia (BoN) has granted provisional approval to four entities, including Mindex Virtual Asset Exchange (Pty) Ltd. and Landifa Bitcoin Trade CC, to operate as virtual asset service providers for six months.
During this period, they will establish infrastructure for cryptocurrency trading, exchanges, and ATMs but can’t yet engage with the public.
Namibia positioned itself as a leader in crypto regulation in Africa, with the Virtual Assets Act of 2023 granting BoN oversight to combat money laundering, protect consumers, and prevent exploiting the market. However, cryptocurrencies will not be considered legal tender.
Economic analyst Josef Sheehama views this as a positive step for financial security and growth, emphasizing that Namibia should embrace crypto’s potential in global trade.
This move signals Namibia’s commitment to a structured and secure digital financial future.
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