Côte d’Ivoire Cryptocurrency Regulation: VASP Law, BCEAO and Licensing
Côte d’Ivoire Ordinance 2023-875 requires prior authorisation for virtual-asset providers. Learn Article 58, BCEAO rules and FATF status.
On this page
Côte d'Ivoire regulates banking and payment services through the West African Monetary Union (UMOA), whose central bank is BCEAO. Ordinance No. 2023-875 of 23 November 2023 also regulates professional virtual-asset service providers (VASPs). Its Article 58 requires prior approval or authorisation, while Article 59 sets AML obligations. This is an existing law, not a future proposal. See the official CENTIF text.
Ordinance 2023-875 already requires prior VASP authorisation. What was not independently verified is a publicly operational general crypto-exchange application process, public licence register or universal VASP minimum capital. That distinction matters. The legal requirement exists even where implementing details are unclear.
Two recent events matter. BCEAO announced a committee to draft regional crypto rules on 8 May 2026. On 30 October 2026, the Financial Action Task Force (FATF) removed Côte d'Ivoire from its list of jurisdictions under increased monitoring.
These events are important. Neither one automatically authorises a crypto exchange.
Is Bitcoin legal in Côte d'Ivoire?
Bitcoin is not legal tender. The country's official monetary system uses the West African CFA franc.
We did not verify a blanket law criminalising every person's mere possession of Bitcoin. However, professional VASP activity requires prior approval under Article 58 of Ordinance 2023-875. Mere ownership, exchange services, crypto custody and fiat payments are different legal questions.
The status of a specific business depends on what it does. Custody, crypto-to-fiat exchange, payments, fundraising and investment products are not legally identical.
What does BCEAO regulate?
BCEAO provides a common monetary framework for eight UMOA member countries, including Côte d'Ivoire and Senegal.
| Area | Official rule or development | What it means |
|---|---|---|
| Money | West African CFA franc | Bitcoin is not state-issued legal tender |
| Payment providers | Instruction No. 001-01-2024, dated 23 January 2024 | Payment-service rules exist |
| Crypto-specific policy | BCEAO announcement, 8 May 2026 | Committee formed to prepare regional regulation |
| VASP obligations | Ordinance 2023-875, Articles 2, 3 and 58–60 | VASP services require prior approval and AML controls |
| Operational VASP licensing portal | Not independently confirmed in reviewed official material | Do not advertise an unverified approval |
A payment-service authorisation is not the same as a virtual-asset custodian or exchange authorisation.
Why was Côte d'Ivoire removed from the FATF grey list?
On 30 October 2026, FATF announced Côte d'Ivoire's removal from increased monitoring.
The FATF plenary statement credited improvements in international cooperation, risk-based supervision, beneficial-ownership checks, financial intelligence, investigations and targeted financial sanctions.
| FATF milestone | Date | Meaning |
|---|---|---|
| Listed for increased monitoring | October 2024 | Country committed to addressing identified AML weaknesses |
| Removal announced | 30 October 2026 | FATF concluded the action plan and on-site process |
| Crypto exchange licensing | Not created by the removal | VASP activity still needs its own legal basis |
Removing a country from the grey list does not mean every crypto platform is safe or supervised.
See FATF's official 30 October statement.
What does Ordinance 2023-875 require of crypto businesses?
Côte d'Ivoire already has an enacted VASP authorisation rule. Ordinance No. 2023-875 of 23 November 2023 incorporates virtual-asset service providers into the national AML/CFT framework.
| Provision | Confirmed requirement |
|---|---|
| Article 2 | Defines VASPs: crypto–fiat exchange, crypto–crypto exchange, asset transfers, custody and specified token-offer services |
| Article 3 | Includes VASPs among entities subject to AML/CFT rules |
| Article 58 | Requires prior approval or authorisation by the competent authority before professionally providing virtual-asset services |
| Article 59 | Applies relevant AML/CFT duties, including preventive controls, to VASPs |
| Article 60 | Requires suspicious-transaction or attempted-transaction reporting to CENTIF where applicable |
| Article 107 | Requires supervisory oversight of compliance with the Article 58 authorisation rule |
The law creates an authorisation obligation. It does not, by itself, establish that a particular platform has been approved. An operative public application portal, approved-operator register and universal VASP capital threshold were not independently verified.
The Ivorian Treasury Committee for Monitoring Illicit Financial Investments issued an alert reported on 17 August 2026. It warned about fraudulent crypto-investment offers and stated that no crypto platform held the required authorisation in Côte d'Ivoire at the time. This is a dated statement, not proof of the position on every subsequent date. Businesses should obtain current written confirmation from the competent authority.
Sources: CENTIF, official text of Ordinance 2023-875 and Treasury Committee's August 2026 statement published by KOACI.
What laws apply to crypto payment companies?
A company accepting fiat from a customer must assess the regional payment-services instruction. It should also assess money transfer, foreign-exchange and AML obligations.
A company selling Bitcoin or USDT must obtain the authorisation required by Article 58 where its service falls within the VASP definition. An ordinary payment licence does not automatically authorise crypto exchange or custody. The separate BCEAO payment-services transition ended on 31 August 2025; it is not a VASP licensing deadline.
The Ivorian digital-law directory also lists general laws on electronic transactions and cybercrime. Those are not substitutes for VASP authorisation.
Is there a minimum VASP capital amount?
Ordinance 2023-875 does not establish a single, verified universal VASP minimum capital amount. Bank and payment-institution capital rules are separate and must not be presented as VASP minimum capital.
Some licensed financial institutions have separate minimum capital rules. Those figures must not be copied into a crypto-exchange article without proof of legal applicability.
What should users and businesses check?
Ask a crypto service for its incorporated legal name. Identify the entity that accepts fiat and the entity that custodies assets.
Check current licence evidence with the relevant authority. Review refund terms, prices, network support and complaints channels.
Crypto transfers do not guarantee local bank or mobile-money settlement. Compare USDT and USDC for African payments. The Africa regulation directory also tracks neighbouring rules.
Bottom line
Côte d'Ivoire sits inside a regional payment framework, but Ordinance 2023-875 already requires prior authorisation for professional virtual-asset services. The BCEAO's 2026 committee is developing more detailed regional rules. Its announcement does not, by itself, license an exchange.
Côte d'Ivoire left FATF increased monitoring on 30 October 2026. This is a concrete AML development, not a general cryptocurrency operating licence.
Primary sources: Ordinance 2023-875, CENTIF; CENTIF official legal directory; BCEAO 2026 crypto-policy event; BCEAO payment-services instruction; FATF decision, 30 October 2026; Treasury Committee warning, August 2026.
