Regulatory AlertsBotswana: crypto & digital assets regulation
RegulatedBotswana VASP licensing via NBFIRA under Virtual Assets Act 2024
- Lead regulator
- Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
- Also involved
- Bank of Botswana (monetary policy) · Financial Intelligence Centre (AML/CFT oversight)
- Core law
- Virtual Assets Act 2024
- Entry capital
- —
- Approval timeline
- —
- Customer assets
- Licensed VASP only
- Data protection
- Data Protection Act 2018 · Data Protection Commissioner
- Sandbox
- No
Botswana has established a formal regulatory regime for virtual assets under the Virtual Assets Act 2024, supervised by the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). The framework mandates licensing for Virtual Asset Service Providers (VASPs) and requires strict adherence to AML/CFT standards aligned with FATF recommendations. The regulatory direction is toward comprehensive oversight of the crypto sector to ensure financial integrity and consumer protection.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Exchange / trading platform | LicenceVASP Licence[1] Requires AML/CFT programme implementation | — | — | NBFIRA |
| Custody of client assets | LicenceVASP Licence[1] Included in VASP definition | — | — | NBFIRA |
| Token issuance / public offering | Uncertainverify with regulator Not explicitly detailed in source | — | — | — |
| Broker-dealer / OTC desk | Uncertainverify with regulator Not explicitly detailed in source | — | — | — |
| Stablecoin issuance | Uncertainverify with regulator Not explicitly detailed in source | — | — | — |
| Crypto payments acceptance | LicenceVASP Licence[1] Included in VASP definition | — | — | NBFIRA |
| Mining / staking services | Uncertainverify with regulator Not explicitly detailed in source | — | — | — |
| Advisory / portfolio management | Uncertainverify with regulator Not explicitly detailed in source | — | — | — |
New — what changed recently
- 2025-03-24Guidance Note on AML/CFT Programme Implementation for VASPs — NBFIRA issued guidance requiring VASPs to implement comprehensive AML/CFT programmes under the Virtual Assets Act.[1]
Market-entry checklist
- 1Apply for VASP Licence via NBFIRASubmit application under the Virtual Assets Act 2024 framework.
- 2Implement AML/CFT ProgrammeDevelop and adopt a risk-based AML/CFT programme as per NBFIRA guidance.
- 3Register with Financial Intelligence CentreEnsure compliance with reporting obligations under the Financial Intelligence Act.
- 4Comply with Data Protection ActAdhere to data privacy requirements enforced by the Data Protection Commissioner.