Namibia Cryptocurrency Regulation: VASP Licensing, Capital and Rules

Namibia regulates virtual asset service providers (VASPs) under the Virtual Assets Act, 2023. The law took effect on 25 July 2023. The Bank of Namibia is the regulator.

The key distinction: Namibia has a legal framework for licensed crypto businesses. That does not make Bitcoin legal tender. It also does not mean a business with provisional authorisation can start serving customers.

This guide reflects primary sources checked on 2 November 2026. It distinguishes enacted rules from individual licensing announcements.

For a wider comparison, explore Finlazo's Africa cryptocurrency regulation directory. It covers all 54 African sovereign states, with country-by-country licensing, regulator and capital information.

Is cryptocurrency legal in Namibia?

The Virtual Assets Act permits regulated virtual asset businesses that meet its licensing requirements. The Act covers specified services provided for or on behalf of other people.

The Bank of Namibia says virtual currencies are not legal tender. A buyer and merchant may decide whether to accept a virtual asset in payment. That statement does not excuse a payment intermediary from applicable licensing laws.

Using crypto privately and operating an exchange for customers are different activities. Assess the actual service before deciding whether a VASP licence is required.

What law regulates crypto businesses?

Sources: the Act, Bank of Namibia rules and the 2025 announcement.

Who needs a VASP licence?

Section 7 generally requires a local legal presence and an issued licence. Applicants must meet fit-and-proper, governance, financial and anti-money laundering requirements.

The law covers activities such as exchanges, custody, broker-dealing, wallet services and token-related services, subject to its schedules and exclusions.

An applicant must identify its licence class. It also needs a business plan, relevant technology details and measures for customer due diligence.

Statutory penalty: Section 7 provides for a fine of up to N$10 million, imprisonment of up to 10 years, or both, upon conviction for operating in breach of the licensing requirement. This is a legal maximum. It is not an automatic penalty.

What is the minimum capital for a crypto licence in Namibia?

The Bank of Namibia's Capital and Other Financial Requirements, published in Government Gazette No. 8197 on 1 September 2023, set different requirements by activity.

Source: Bank of Namibia's VASP regulations; Government Gazette No. 8197, Annexure 1 — official text.

Important: the table gives class-based own-funds floors, not necessarily the total capital required. Under paragraph 4 of the 2023 notice, a licence holder must hold the higher of its own-funds requirement, prudential requirement, or another amount specified by the Bank. Paragraph 6 also requires prudential safeguards of at least the higher of one quarter of the previous year's fixed overheads and the amount determined under the risk-management rules. First-year firms use projected overheads.

Paragraph 5(2) requires combined capital for multiple licence classes. Intangible assets, including goodwill, are excluded from the capital calculation. A firm may therefore need more than the class figure shown above. Read the full Gazette notice.

These rules do not include every application fee, technology, staffing, reporting or legal expense. Check for later amendments before budgeting.

Can a provisionally authorised exchange operate?

Not solely because it received a provisional authorisation.

On 13 January 2025, the Bank named Mindex Virtual Asset Exchange (Pty) Ltd and Landifa Bitcoin Trade CC as provisionally authorised VASP applicants. It said the six-month provisional stage did not allow business or customer engagement.

That 2025 announcement is evidence of provisional approval at that time, not confirmation of either entity's licensing status in November 2026. The provisional period was six months, subject to further authorisation decisions. Do not treat an old announcement, a company's own marketing or a licence-in-principle as evidence of an active full licence.

Section 10 requires a public register of licence holders. Ask the Bank of Namibia to confirm the legal entity, licence class, approval date and any conditions. We could not independently establish current full-licence status for those two entities from an up-to-date regulator register.

Read the Bank's original notice before drawing conclusions about any provider.

What compliance obligations apply?

The Bank publishes virtual asset rules addressing custody, cyber security, advertising, client disclosures, Travel Rule obligations, capital and risk management.

A prospective VASP should assess its custody model, customer screening, suspicious activity controls and recordkeeping. Businesses handling client assets must also consider segregation requirements.

For regional context, compare South Africa's CASP rules and Botswana's VASP framework. These laws are not interchangeable.

How should consumers check a provider?

Ask for the provider's exact legal name and licence class. Verify its status with the Bank of Namibia. Confirm who holds customer assets and how withdrawals work.

Do not treat an exchange's website, overseas licence or provisional approval as proof of a Namibian operating licence.

Bottom line

Namibia has an enacted VASP licensing framework. The class-based own-funds figures include N$1 million for broker-dealers, N$2 million for custodians and N$2.7 million for marketplaces. The capital notice also requires higher-of prudential safeguards and combined requirements where multiple classes apply. Other classes use working-capital tests.

The Bank of Namibia remains the key licensing authority. Verify each provider's actual authorisation before relying on it.

Primary sources, checked 2 November 2026: Virtual Assets Act No. 10 of 2023; Capital and Other Financial Requirements, Government Gazette 8197; Bank of Namibia regulations; Bank's virtual assets announcement; provisional authorisations.