{"id":547209,"date":"2026-07-15T14:29:56","date_gmt":"2026-07-15T13:29:56","guid":{"rendered":"https:\/\/cryptoslate.com\/?post_type=crypto_law&p=547209"},"modified":"2026-07-15T14:29:56","modified_gmt":"2026-07-15T13:29:56","slug":"botswana-virtual-assets-act-2022","status":"publish","type":"crypto_law","link":"https:\/\/cryptoslate.com\/crypto-laws\/botswana-virtual-assets-act-2022\/","title":{"rendered":"Botswana Virtual Assets Act, 2022"},"content":{"rendered":"

Status as of July 10, 2026:<\/strong> Botswana\u2019s Virtual Assets Act, 2022<\/em> (Act No. 3 of 2022) is best treated as a repealed crypto law profile. The Act was assented to and commenced on February 25, 2022, and created Botswana\u2019s first dedicated statutory framework for virtual asset businesses, virtual asset service providers, and issuers of initial token offerings. NBFIRA\u2019s 2025 AML\/CFT guidance<\/a> states that the 2022 VA Act was repealed and replaced by the Virtual Assets Act, 2025<\/em>.<\/p>\n

What the Botswana Virtual Assets Act, 2022 covered<\/h3>\n

The Act was enacted to regulate the sale and trade of virtual assets, the licensing of virtual asset service providers, and the licensing of issuers of initial token offerings. It defined \u201cvirtual asset\u201d as a digital representation of value that may be digitally traded, transferred, or used for payment or investment purposes, while excluding digital representations of legal tender and securities or other financial assets regulated under Botswana\u2019s banking and securities laws.<\/p>\n

The 2022 framework applied to participants in the formation, promotion, sale, or redemption of initial token offerings and to persons carrying on virtual asset business, including activities conducted from outside Botswana. It also captured exchange between virtual assets and fiat currency, exchange between virtual assets, virtual asset transfers, payment services using virtual assets, and financial services connected to an issuer\u2019s offer or sale of a virtual asset.<\/p>\n

Licensing, supervision, and transitional period<\/h3>\n

The Act placed supervisory responsibility with the Non-Bank Financial Institutions Regulatory Authority. NBFIRA was empowered to license VASPs and initial-token-offering issuers, regulate and supervise virtual asset business in Botswana, issue rules and guidance, request information, appoint inspectors, and take enforcement action. Section 9 prohibited carrying on or participating in virtual asset business without a VASP licence or an issuer-of-initial-token-offerings licence.<\/p>\n

Licence applications under the Act had to include prescribed information, including business plans, management arrangements, customer due diligence information for relevant owners and officers, and policies designed to meet obligations under the Act and the Financial Intelligence Act. NBFIRA announced<\/a> that the Act and the related 2022 Regulations were effective from February 25, 2022. Existing operators were given a three-month transitional period; NBFIRA later stated<\/a> that the period ended on May 31, 2022.<\/p>\n

Key obligations under the 2022 framework<\/h3>\n