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Botswana

Africa · Developing

Botswana enacted its Virtual Assets Act in 2022, giving NBFIRA licensing authority over exchanges and token offerings. With a clean FATF standing and a stable institutional environment, the framework is credible but lightly tested — only a handful of licences have been issued.

DAI Methodology v2.1 Last updated June 2026
DAI Readiness Score™
64.5
out of 100
Regulatory & Enforcement Agencies

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Regulatory status

Developing

Source unavailable
Primary regulator

Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

Source unavailable
Licensing requirements

Virtual Assets Act 2022 — licensing of virtual asset businesses and ITOs under NBFIRA.

Source unavailable
AML requirements

Financial Intelligence Act obligations apply to VASPs; Botswana exited FATF grey list in 2021.

Source
Travel Rule status

Pending — Provided for in subsidiary regulations; operational guidance awaited.

Source unavailable
Tax treatment

No bespoke crypto tax guidance; general income tax principles applied.

Source unavailable
Consumer protection

Virtual Assets Act disclosure duties; NBFIRA public warnings regime.

Source unavailable
Key risks
  • —Shallow domestic market limits supervisory experience
  • —Travel Rule operational guidance still pending
  • —Banking access for licensed VASPs remains cautious
Key legislation
2022
Virtual Assets Act

Establishes licensing and conduct regime for virtual asset businesses.

Source unavailable
2019
Financial Intelligence Act

AML baseline extended to virtual asset businesses.

Source unavailable
Recent developments
2026-03-19
NBFIRA licenses second exchange

Domestic licensing regime slowly gaining traction.

Source
2026-01-15
Travel Rule guidance drafted

Consultation with industry on implementation thresholds.

Source unavailable
Regulatory timeline
  1. 2021

    FATF grey-list exit

  2. 2022

    Virtual Assets Act enacted

  3. 2024

    First VASP licence issued

  4. 2026

    Travel Rule consultation underway

Primary Sources & Official Documents
  1. 01
    FATF Recommendations (including Recommendation 15 — new technologies)
    Financial Action Task Force · Updated periodically
    https://www.fatf-gafi.org/en/topics/fatfrecommendations.html
  2. 02
    FATF Targeted Update on Implementation of the Standards on VAs and VASPs
    Financial Action Task Force · Annual
    https://www.fatf-gafi.org/en/publications/Fatfrecommendations.html
  3. 03
    High-Risk and Other Monitored Jurisdictions (grey and black lists)
    Financial Action Task Force · Updated three times a year
    https://www.fatf-gafi.org/en/publications/High-risk-and-other-monitored-jurisdictions.html

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Sources:Virtual Assets Act 2022 (Botswana) · NBFIRA notices
Professional disclaimerDigital Asset Intelligence content is provided for informational purposes only and does not constitute legal, tax, investment, or compliance advice. Regulatory positions change frequently; verify all material with primary sources and qualified counsel before relying on it for licensing, supervisory, or compliance decisions.