Crypto Overview in Mozambique

Regulatory data is for informational purposes only and may not reflect the most current legal developments. Always consult qualified professionals before making decisions.

The Republic of Mozambique operates a cautious, advisory regulatory stance on cryptocurrencies. Banco de Moçambique (BdM) warned consumers in January 2018 that virtual assets fall outside its supervisory perimeter, and that warning has not been replaced with a formal framework. There is no comprehensive crypto-specific statute, no operational VASP licensing regime, and no published tax guidance. The country’s most consequential recent development was its removal from the FATF grey list on 24 October 2025, closing a three-year remediation process and creating more favourable conditions for future financial-sector reform. Mobile money, not cryptocurrency, continues to dominate retail digital payments.

Legal Classification and Regulatory Framework

Cryptocurrency Status

Cryptocurrencies are not legal tender and remain unregulated rather than prohibited. Banco de Moçambique issued a public consumer warning in January 2018 stating that it does not supervise virtual currency activities and cautioning the public about fraud, cybercrime, anonymity risks, and money-laundering exposure. The warning has not been replaced with a formal framework, and there is no statutory definition of virtual assets in Mozambican law. The ESAAMLG 5th Enhanced Follow-Up Report of April 2025 confirms that BdM is designated as the VASP supervisor, but no licensing framework or authorisation pathway has been operationalised. Ownership in a VASP is freely transferable, but registration requires BdM approval; the transfer of a VASP registration certificate is subject to prior BdM authorisation. Foreign-jurisdiction VASPs serving Mozambican residents must comply with applicable local regulations.

Tax Treatment

The Autoridade Tributária de Moçambique (AT) has not issued crypto-specific tax guidance. In the absence of dedicated rules, general income tax provisions apply by default to any crypto-related activity that generates taxable income. Individuals are subject to IRPS (Imposto sobre o Rendimento das Pessoas Singulares) at progressive rates up to 32%. Companies are subject to IRPC (Imposto sobre o Rendimento das Pessoas Colectivas) at a flat rate of 32%. Law No. 11/2025 of 29 December 2025 introduced amendments to the IRPS Code expanding taxable income to cover gains from the transfer of goods and the provision of digital services when payable by entities located or resident in Mozambique, but no dedicated treatment for crypto capital gains, mining income, or token issuance has been published. A standard VAT rate of 17% applies to taxable transactions.

Regulatory Oversight

Banco de Moçambique is the lead financial-sector regulator and the only authority to have made public statements on cryptocurrencies. GIFiM (Gabinete de Informação Financeira de Moçambique) is the country’s financial intelligence unit and the mandatory recipient of suspicious transaction reports under AML Law No. 14/2023, Article 44. The Ministry of Economy and Finance oversees fiscal policy. The Capital Markets Institute and the Bolsa de Valores de Moçambique (BVM) have not issued crypto-specific positions. AML Law No. 14/2023 requires GIFiM and other competent authorities to provide information to foreign counterparts on request, and Article 61 of the same law prohibits shell bank relationships and mandates reporting them to GIFiM.

Business Environment

Banking Relationships

The BdM warning has not been accompanied by a formal directive prohibiting banks from servicing crypto-related customers, but practical banking access is extremely limited. Mozambique’s banking sector is still rebuilding institutional trust following the 2016 hidden-debt scandal, which left commercial banks risk-averse toward novel asset classes and complex international compliance exposures. As a result, crypto businesses generally cannot access domestic bank rails. The FATF grey-list exit of October 2025 and the post-2023 AML law reforms are expected to reduce correspondent banking friction over time, but no formal change in bank policy toward crypto clients has been announced.

Innovation Support

The BdM operates an active Regulatory Sandbox, established in 2018 and now in its seventh edition. The 6th edition was launched in March 2025, selecting 11 fintechs from 19 applicants, with an explicit focus on blockchain-based solutions applied to international remittances, smart contracts, digital identification, credit, and savings. The 7th edition was announced with a start date of February 2026 and a nine-month testing window. The sandbox operates alongside a BdM Innovation Hub that connects fintech startups, regulators, and financial institutions. Notice No. 1/GBM/2026 established the Mozambique Instant Payment System (MIPS), extending the digital-payment infrastructure available to fintechs. No central bank digital currency for the metical has been launched.

Crypto License in Mozambique

Mozambique has no dedicated virtual asset service provider licensing regime. Banco de Moçambique is identified as the designated VASP supervisor in the ESAAMLG April 2025 follow-up assessment, but no implementing regulation, licensing ordinance, or authorisation pathway has been published as at mid-2026. Operators considering a Mozambican presence face a regulatory gap between the supervisory mandate assigned to BdM and the absence of a formal framework through which to comply.

Current Status

There is no exchange registration framework, no custody authorisation pathway, and no stablecoin issuance regime. Payment services remain a BdM-licensed activity under Mozambique’s electronic-money framework, which was reinforced in 2025 with stricter client-fund segregation requirements, but crypto-native firms have no registration route under that regime. The ESAAMLG 5th Enhanced Follow-Up Report (April 2025) re-rated Mozambique’s compliance with FATF Recommendation 15 on new technologies and virtual assets from Non-Compliant to Partially Compliant, reflecting progress in assigning supervisory responsibility to BdM rather than in operationalising a licensing regime. Mozambique’s FATF grey-list exit on 24 October 2025 was driven by reforms to AML/CFT supervision of banks and designated non-financial businesses, not by the creation of a VASP licensing framework.

Why No Framework

Legislative bandwidth has been constrained by political instability following the contested October 2024 elections and the continuing security situation in Cabo Delgado province. Broader financial-sector reform priorities have absorbed institutional capacity: the 2023 AML law overhaul, the 2025 electronic-money framework update, and the MIPS implementation each represented substantial regulatory work. Mozambique is an ESAAMLG member state and takes FATF Recommendation 15 compliance obligations seriously, but translating supervisory designation into an operable licensing framework requires primary legislation that has not been tabled. The country’s eventual approach is likely to be shaped by SADC peer dynamics and Lusophone central-bank coordination, given that South Africa has an operational licensed crypto-asset service provider (CASP) regime and Angola moved in the opposite direction with a 2024 ban on cryptocurrency mining.

What Operators Should Know

In the absence of a licensing framework, operators should treat BdM as the default point of contact for any formal engagement with Mozambican authorities on virtual asset activities. AML Law No. 14/2023 imposes know-your-customer, suspicious-transaction reporting to GIFiM, and beneficial-ownership disclosure obligations on entities that may constitute VASPs as a matter of substance, regardless of whether a formal registration route exists. Foreign-jurisdiction VASPs with Mozambican retail clients must comply with applicable local regulations. The BdM Regulatory Sandbox offers the only formal channel through which blockchain-adjacent businesses can test products under regulatory oversight. Counsel familiar with Mozambican financial services law should be engaged before any commercial activity begins, as supervisory expectations can be enforced informally even in the absence of a licensing statute.

Market Characteristics

Adoption Patterns

Retail crypto activity is informal and concentrated in urban centres, particularly Maputo, with documented use cases in cross-border remittances and store-of-value demand. Mobile money is the primary digital-payments channel and is interoperable across major operators, with more than ten million active accounts across multiple providers. Cryptocurrency adoption has grown through the early 2020s, but reliable on-chain data segmented to Mozambique remains limited. The absence of licensed domestic exchanges means retail access is channelled through foreign platforms, with the associated currency conversion and compliance exposure that entails.

Industry Focus

No domestic crypto industry has formed around licensed exchanges, custody, or token issuance. Mining is not a structural feature of the economy. The BdM Regulatory Sandbox is the principal channel for blockchain-adjacent innovation, and the 6th edition’s blockchain participants are oriented toward payments and financial inclusion rather than virtual assets as a separate asset class. The Mozambique Fintechs Association (FINTECH.MZ) is an active industry body coordinating with BdM, but its focus remains on mobile payments and credit rather than crypto-asset services.

Regulatory Evolution

Mozambique is a member of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG). The country was placed on the FATF grey list in October 2022 and removed on 24 October 2025 at the Paris plenary, alongside Burkina Faso, Nigeria, and South Africa. The removal followed completion of Mozambique’s action plan, which included strengthening GIFiM’s operational independence, introducing risk-based AML supervision for banks and designated non-financial businesses, and improving inter-agency coordination. Mozambique remains in ESAAMLG enhanced follow-up and must demonstrate continued progress by September 2027 under the Sustainability Strategy of the System for Preventing and Combating Money Laundering 2026-2030, approved by cabinet in 2025. FATF Recommendation 15 compliance was re-rated Partially Compliant in April 2025, with the expectation that a formal VASP supervisory framework will be built out over the follow-up period.