Mauritania Compliance Report

Generated 2026-09-22

No Guidance

Regulatory Overview

Regulatory Status: Regulators have not addressed crypto; legal status ambiguous
Key Regulator(s): Central Bank of Mauritania, Non-SDN Palestinian Legislative Council
Primary Legislation: A June 2021 law on electronic payment services, enabling non-bank providers for
Travel Rule: Adopted — Threshold: Implemented
Tax Reporting: Absence: There is no specific tax legislation in Mauritania dedicated to cryptocurrencies or virtual assets. This means there are no crypto-specific capital gains rates, income tax rules, or VAT treatments.. Not Legal Tender: The Central Bank of Mauritania (BCM) has repeatedly warned against the use of cryptocurrencies, stating they are not legal tender and are not regulated by the BCM. They have highlighted risks such as volatility, lack of consumer protection, and potential for illicit activities.. Reference (General BCM website, where warnings are typically published):. Banque Centrale de Mauritanie (BCM): http://www.bcm.mr/. No Specific Rates for Crypto: Mauritania does not have a specific capital gains tax regime for individuals trading cryptocurrencies.

Key Facts

aml Law N° 2013-030 of 17 July 2013 on Combating Money Laundering and Terrorist Financing (Loi n° 2013-030 du 17 juillet 2013 relative à la lutte contre le blanchiment de capitaux et le financement du terrorisme). For Natural Persons: Obtain and verify the customer's identity using reliable, independent source documents, data, or information (e.g., national ID card, passport, residence permit). This includes full name, date of birth, place of birth, address, and nationality. For Legal Entities/Arrangements: Obtain and verify the legal entity's name, legal form, proof of incorporation/existence, address of registered office, names of directors/partners, and provisions regulating the power to bind the entity. Beneficial Ownership Identification: Identify and take reasonable measures to verify the identity of the beneficial owner(s) of the customer, including for legal entities and arrangements (e.g., trusts). This typically involves identifying individuals who ultimately own or control more than a specified percentage (e.g., 25%) of the entity. Purpose and Intended Nature of Business Relationship: Understand and, where appropriate, obtain information on the purpose and intended nature of the business relationship or occasional transaction. Ongoing Monitoring: Conduct ongoing monitoring of the business relationship and transactions undertaken throughout the course of the relationship to ensure they are consistent with the VASP's knowledge of the customer, their business, and risk profile. This includes reviewing transactions for unusual patterns. Risk-Based Approach: Apply CDD measures on a risk-sensitive basis. VASPs must have policies and procedures for assessing and managing risks associated with different customers, products, services, and geographic areas. Enhanced Due Diligence (EDD) must be applied for higher-risk customers (e.g., Politically Exposed Persons - PEPs), complex or unusually large transactions, and situations identified as high-risk. Simplified Due Diligence (SDD) may be permitted for lower-risk situations, but the VASP must be able to demonstrate that the risk is genuinely low. Screening: Screen customers against national and international sanctions lists (e.g., UN Security Council resolutions).
custody Custodial License Requirements: There are no specific licenses for digital asset custodians because cryptocurrencies are not permitted for use as legal tender or for financial transactions. Offering such services would likely fall outside the bounds of permitted financial activities. Segregation of Client Assets Rules: Not applicable. Since there's no legal framework for operating crypto custody services, there are no rules regarding asset segregation. Insurance/Bonding Requirements: Not applicable. Cold Storage Mandates: Not applicable. Qualified Custodian Definitions: Not applicable. Specific Reference: While a direct, permanent URL to the original communiqué on the BCM's website can be challenging to locate years after its issuance (central bank websites often update and remove older press releases), its existence and content are widely reported by financial news outlets and international organizations monitoring cryptocurrency regulations. Sources like the IMF, World Bank, and various legal/financial news outlets consistently report Mauritania's cautionary or prohibitive stance on cryptocurrencies, originating from the BCM. IMF Country Report (various years): Often mention the financial sector's position on new technologies. While not a direct prohibition, these reports would reflect the local regulator's actions. For example, IMF reports discussing financial sector stability in Mauritania might indirectly reference the BCM's stance.
enforcement Legal Basis (Indirect): The relevant legislation would be Loi N° 2013-057 portant sur les systèmes et moyens de paiement en République Islamique de Mauritanie (Law N° 2013-057 on payment systems and means in the Islamic Republic of Mauritania), and subsequent implementing regulations or circulars from the BCM regarding payment service providers and e-money. This law defines and regulates various payment instruments and services.
general No specific crypto-focused securities test exists. Mauritania has not adopted a framework akin to the U.S. Howey Test or similar bespoke tests seen in more developed crypto jurisdictions. The BCM's stance indicates a general rejection or strong discouragement of all types of cryptocurrencies due to concerns about their volatility, potential for illicit finance (money laundering, terrorism financing), lack of consumer protection, and threats to monetary policy and financial stability. While Mauritanian law would have traditional definitions of "securities" for conventional financial instruments (stocks, bonds, etc.), there is no indication these definitions have been adapted or interpreted to encompass the diverse range of digital assets. Given the absence of a specific classification framework, Mauritania does not officially differentiate between utility tokens, security tokens, payment tokens, or other categories for regulatory purposes. The BCM's warnings generally apply to all forms of cryptocurrencies (like Bitcoin, Ethereum, etc.) without making distinctions based on their underlying economic function or structure. Therefore, the question of which tokens are considered securities is largely moot, as the regulatory environment treats the asset class as a whole with extreme caution or prohibition. None exist. As Mauritania discourages or prohibits cryptocurrency activities, there are no established procedures for token issuers to register their offerings or seek exemptions. An entity attempting to issue a cryptocurrency token in Mauritania would likely face severe regulatory scrutiny and potential legal action for engaging in unauthorized financial activities, rather than being guided through a registration process. Secondary Trading Rules:
licensing Absence of Specific Legislation: Mauritania has not enacted specific laws or decrees to regulate virtual assets, blockchain technology, or cryptocurrency service providers. Unlike many countries that have adopted or are in the process of adopting bespoke crypto regulations, Mauritania has not yet done so. Central Bank Stance: The Banque Centrale de Mauritanie (BCM) – the country's central bank and primary financial regulator – has generally taken a cautious stance. While there hasn't been an outright ban, the BCM has historically issued warnings regarding the risks associated with cryptocurrencies, including their volatility, potential for fraud, and use in illicit activities. These warnings serve to inform the public and financial institutions of the risks rather than establishing a regulatory framework. No Specific Licenses: Consequently, there are no specific licenses or registration requirements for cryptocurrency exchanges, custody providers, or payment processors. Cryptocurrency Exchanges: No specific license for operating a cryptocurrency exchange. Any entity attempting to operate might fall under general business registration laws, but without specific financial services oversight for crypto. Custody Providers: No specific license for providing crypto custody services. Payment Processors (dealing with crypto): No specific license for crypto-related payment processing. If a payment processor primarily deals with fiat currency but offers a crypto "conversion" or "gateway" service, the fiat-related aspects would still be subject to existing BCM regulations for payment service providers (PSPs). Neither a dedicated licensing nor a registration regime for virtual assets exists. Entities wishing to operate a business in Mauritania would, however, need to comply with general Mauritanian commercial law for company registration and obtain standard business permits, which are distinct from financial service licenses.
securities Regulatory Gap: Absence of dedicated crypto legislation leaves a significant regulatory vacuum. Licensing Status: No licenses are currently required for crypto operations, creating regulatory uncertainty. Compliance Obligations: Entities engaged in digital asset trading must comply with general AML/KYC obligations under FATF recommendations. Market Entry Feasibility: Given the absence of licensing, entities may proceed cautiously, monitoring potential future regulatory announcements. Central Bank of Mauritania (BCM): Mandate includes overseeing monetary policy, supervising banks, and ensuring financial stability. As of 2023, the BCM has issued occasional advisories on emerging digital finance but lacks crypto‑specific directives. Responsible for fiscal policies and tax regulations affecting digital assets.
stablecoin No specific classification for stablecoins exists in Mauritanian law. Likely Interpretation: If a stablecoin aims to maintain a stable value relative to the Mauritanian Ouguiya (MRO) or another fiat currency and is used for payments, it would most likely be interpreted as a form of e-money or a payment token under the existing payment systems framework, rather than a security. This is because its primary function would be to facilitate transactions rather than to represent an investment with an expectation of profit. Legal Basis (Indirect): The relevant legislation would be Loi N° 2013-057 portant sur les systèmes et moyens de paiement en République Islamique de Mauritanie (Law N° 2013-057 on payment systems and means in the Islamic Republic of Mauritania), and subsequent implementing regulations or circulars from the BCM regarding payment service providers and e-money. This law defines and regulates various payment instruments and services. No specific reserve requirements for stablecoins. Safeguarding of client funds: Requirements to hold funds equal to the e-money issued, segregated from the issuer's own operational funds, in secure bank accounts or other low-risk assets. Capital adequacy: The issuer would need to meet minimum capital requirements to ensure its financial stability. These requirements are designed to ensure that e-money can be redeemed at par value at any time. No specific stablecoin issuer license.
status A June 2021 law on electronic payment services, enabling non-bank providers for digital finance but not covering cryptocurrencies. Ratification of the African Union Convention on Cyber Security and Personal Data Protection in May 2023, focusing on data protection without crypto provisions.
tax Absence: There is no specific tax legislation in Mauritania dedicated to cryptocurrencies or virtual assets. This means there are no crypto-specific capital gains rates, income tax rules, or VAT treatments. Not Legal Tender: The Central Bank of Mauritania (BCM) has repeatedly warned against the use of cryptocurrencies, stating they are not legal tender and are not regulated by the BCM. They have highlighted risks such as volatility, lack of consumer protection, and potential for illicit activities. Reference (General BCM website, where warnings are typically published): Banque Centrale de Mauritanie (BCM): http://www.bcm.mr/ No Specific Rates for Crypto: Mauritania does not have a specific capital gains tax regime for individuals trading cryptocurrencies. General Capital Gains: Mauritanian tax law generally applies capital gains tax to specific assets, often related to real estate or shares in listed companies for individuals. For businesses, capital gains are typically integrated into corporate income. Potential Interpretation: In the absence of specific rules, if an individual were to engage in frequent and high-volume crypto trading activities, the tax authorities could potentially attempt to classify these gains as professional or business income, subject to the Personal Income Tax (Impôt sur le Revenu des Personnes Physiques - IRPP) rates, rather than a separate capital gains tax. This would depend entirely on the facts and circumstances of the activity and an interpretation by the tax administration. No Specific Rules for Crypto Income: There are no specific income tax rules in Mauritania for income derived from cryptocurrencies (e.g., mining rewards, staking rewards, airdrops, income from crypto-related services).
travel rule Whether Adopted: No, the FATF Travel Rule has not been adopted or implemented in Mauritania. Instead, the country has opted for a prohibition of virtual asset transactions. Effective Date: The prohibition on virtual asset transactions was communicated by the Banque Centrale de Mauritanie (BCM) on February 16, 2022. This communiqué effectively put in place the ban. Threshold Amounts: Not applicable. Since virtual asset transactions are prohibited, there are no regulated thresholds for the Travel Rule to apply to. Which VASPs are Covered: Not applicable. No VASPs are permitted to operate legally in Mauritania. Any entity attempting to offer virtual asset services would be doing so illegally. Technical Implementation Requirements: Not applicable. As virtual asset transactions are prohibited and no VASPs are licensed, there are no technical implementation requirements for the Travel Rule. Financial Penalties: Fines under existing financial regulations. Asset Seizure/Forfeiture: Assets used in or derived from illegal virtual asset activities could be subject to seizure. Criminal Charges: Depending on the nature and scale of the activity, especially if linked to money laundering, terrorist financing, or other illicit activities, individuals could face imprisonment under Mauritanian criminal code and AML/CFT laws.

Sources

This report is AI-generated from publicly available regulatory sources. Last updated: 2026-09-09. View full profile