Is crypto legal in Tanzania?

Is crypto legal in Tanzania? The answer is mixed. The central bank has warned people not to trade or use crypto and says the shilling is the only legal tender, but a court has found crypto trading lawful, and the tax code now taxes crypto deals. As of October 2026 a regulatory framework is being prepared.

Is cryptocurrency legal in Tanzania?

Not formally authorized. In a November 2019 public notice the Bank of Tanzania (BoT) said virtual currencies are not legally authorized in Tanzania. It advised the public against trading, marketing and using them, which it said goes against existing foreign exchange regulations. It relied on the Bank of Tanzania Act, 2006, under which only the BoT issues money and declares legal tender.

The courts have read the position differently. In Yellow Card Tanzania Limited v. Nyamwero Michael Nyamwero, decided on December 13, 2024, the High Court rejected an argument that a settlement was void because crypto business is banned. It held that trading crypto is not illegal, reasoning that people dealing in digital assets have been paying tax, and awarded the plaintiff about $1.19 million, the law firm Bowmans reported.

Is bitcoin legal in Tanzania?

Bitcoin is in the same position as other crypto. It is not legal tender, and the BoT's 2019 notice warns against trading or using it. The 2024 court ruling, however, treats trading as lawful, and the tax rules assume crypto exchanges take place.

How is crypto taxed in Tanzania?

The Finance Act 2024 defined digital assets to include cryptocurrencies, token codes and NFTs, and from July 1, 2024 placed a 3% withholding tax on payments for exchanging or transferring a digital asset to a resident person, EY reported. EY noted that the BoT circular against crypto could make the tax hard to apply.

The Tanzania Revenue Authority's 2025/2026 guide lists the 3% rate for any resident or non-resident person who owns a digital asset exchange platform or facilitates such exchanges and pays a resident. The tax is withheld by the platform and is due by the 7th day of the following month. Compare other systems in crypto tax around the world.

Will Tanzania regulate crypto?

It appears to be moving that way. The Citizen reported on July 30, 2026 that the BoT had finished assessing the country's virtual assets sector and developed a regulatory concept that could lead to supervision of crypto tokens and stablecoins. No framework had been published when this guide was updated.

For neighbors, see is crypto legal in Kenya and is crypto legal in Uganda. For the wider picture, see is cryptocurrency legal.

Rules differ by country and change often. Check the tax authority or a qualified professional for your own situation.