Cryptocurrencies have gained significant global prominence, being utilised for various purposes worldwide. Its market has evolved into a multibillion-dollar industry, with a global estimate surpassing $1,164 billion and a daily trading volume exceeding $653 billion as of the 5th of August 2023.
Namibia has recently enacted legislation marking the commencement of the country’s cryptocurrency regime. The expansion of Namibia’s regulatory landscape in response to the worldwide growth of the cryptocurrency industry is remarkable, particularly as it stands as the third African country to enact legislation specifically addressing virtual assets.
The article below explores in broad strokes the effects of this new regime.