Crypto Regulation in Sudan

Sudan has not currently enacted regulations or legislation specifically regulating digital currency yet. Sudan’s current legislation addresses electronic payments in general. However, it does not cover cryptocurrencies because the “Electronic Transactions Act, 2007” [1] was enacted before the rise of these virtual currencies. Despite of that, there are still many strong measures in this Act, such as protecting the secrecy of information and detailing the electronic contracting process. 

Source: Freeman Law

Sudan’s central bank urged citizens not to use cryptocurrencies, warning of the risks of financial crime, electronic piracy and market volatility, the state-run SUNA news agency reported.

Taking aim at what it said was the aggressive global promotion of crypto on social media platforms, the regulator said digital currencies couldn’t be considered legal tender because they’re “not issued by authorized or accredited bodies that are legally bound,” according to SUNA.

Source: Bloomberg

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