Crypto Regulation in Cabo Verde
The small island country of Cabo Verde is increasingly becoming a hub for Bitcoin trading activity. In recent months, the volume of Bitcoin traded on the island has grown significantly, and Cabo Verde is now home to one of the largest Bitcoin trading platforms in Africa.
This growth in Bitcoin trading activity is largely due to the fact that Cabo Verde has a very favorable regulatory environment for cryptocurrency businesses. The country has no specific laws or regulations governing cryptocurrencies, meaning that businesses are free to operate without fear of legal reprisal.
This lack of regulation has attracted a number of major cryptocurrency exchanges to set up shops in Cabo Verde. Binance, Huobi, and OKEx have all opened offices on the island, and they are joined by a number of smaller exchanges.
Source: Polish News
Neither the Bank of Cape Verde, nor the Government of Cape Verde have made a statement or have publicly presented a stance with regards to cryptocurrencies and their legality.
Source: CDN
Cryptocurrency licenses in Cape Verde are not issued yet, but there are “general” permits instead. They are divided into municipal, which apply to all types of business in the capital, and for certain types of activities. Cape Verde is also included in corporate schemes, setting up a business there and obtaining licenses in other jurisdictions – national permits allow you to work only internally
Source: Pri Finance
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Bitcoin trading in Cabo Verde is still relatively new, but it is growing in popularity. There are a few different exchanges that allow for Bitcoin trading in Cabo Verde, and more are likely to pop up in the future. The most popular exchange currently appears to be BTCXCV, which is based in Praia. However, there are also a few other exchanges that allow for Bitcoin trading in Cabo Verde, such as Btcvix and Bitcave.
The process of buying and selling Bitcoins in Cabo Verde is similar to that of any other country. First, one must create an account on an exchange. From there, the user can deposit money into their account using various methods, including bank transfer, credit card, or PayPal. Once the money is in the account, the user can then buy and sell Bitcoins as they please.
Source: Polish News
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