Self-custodial wallet / non-custodial software in Chad
Publisher of software where users hold their own private keys. The publisher never holds, controls, or has access to user funds.
Self-custodial wallet is conditionally permitted in Chad without local incorporation, subject to AML obligations and none licensing burden.
Verdict Details
- Permitted
- conditional
- Local entity required
- No
- Licensing burden
- None
- Last updated
- 2026-07-13
AML Obligations
- No AML obligations attach to the software publisher because the non-custodial wallet falls outside the definition of a regulated VASP or financial entity — the publisher never holds, controls, or has access to user funds.
- If the wallet software included any integrated exchange, swap, or fiat on-ramp/off-ramp functionality that gives the publisher any control or custody, the activity could become a regulated VASP activity and would trigger general AML/CFT obligations under Law N°004/PR/2020, including customer identification, beneficial ownership identification, ongoing monitoring, and suspicious transaction reporting to Chad's FIU.
- General AML obligations under Law N°004/PR/2020 apply to 'reporting persons' — entities engaged in financial activities; non-custodial software publishing is not captured.
Key Restrictions
- The publisher must not hold, control, or have access to any user private keys or funds — any custody trigger would bring the operator within BEAC's prohibition on crypto-asset activities.
- If the software integrates any exchange, swap, or financial intermediary service (fiat on-ramp/off-ramp) where the publisher exercises control, the operator risks violating BEAC Circular No. 001/GR/2022 which prohibits financial institutions and economic agents from engaging in crypto-asset activities.
- The publisher should geofence or otherwise block access to any integrated financial services (e.g., in-app swaps) for users in Chad/CEMAC to avoid triggering the BEAC prohibition.
Key Risks
- BEAC Circular No. 001/GR/2022 broadly prohibits 'all economic agents' from engaging in crypto-asset activities — while software publishing alone may not be captured, any ancillary service (e.g., a built-in swap) could lead to enforcement.
- Regulatory ambiguity: The distinction between 'software publisher' and 'VASP' is not defined in Chadian/CEMAC law. A regulator could attempt to re-characterize the software as facilitating unauthorized crypto activity.
- Reputational risk: Even if legally compliant, association with crypto in Chad/CEMAC may attract scrutiny given the BEAC's strong prohibition stance.
Evidence
This verdict synthesizes the following facts. Each fact links to its primary source(s).
Custody of digital assets for third parties is a licensed activity binding in Chad: art. 160 of Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF du 21 juillet 2022 lists conservation d'actifs numériques pour le compte de tiers among PSAN services and art. 144 requires a prior COSUMAF agrément, while COSUMAF has adopted no PSAN implementing instruction, fixed no minimum capital and granted zero agréments. Décision COBAC D-2022/071 du 6 mai 2022 separately bars COBAC-supervised institutions from holding or converting crypto-assets.
No BEAC circular on crypto-assets exists; the CEMAC measure is Décision COBAC D-2022/071 du 6 mai 2022, and the real BEAC Instruction n° 001/GR/2022 concerns declaration of import domiciliation in the extractive sector.
The CEMAC crypto measure is Décision COBAC D-2022/071 du 6 mai 2022, which prohibits only COBAC-supervised institutions from acquiring, holding, transferring or converting crypto-assets and leaves private persons in CEMAC free to hold and use them.
Virtual-asset service providers are licensable rather than banned in Chad: art. 144 of Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF requires a COSUMAF agrément for PSAN activity and art. 42 of Règlement n° 02/24/CEMAC/UMAC/CM conditions PSAV activity on prior agrément, with Décision COBAC D-2022/071 closing only the regulated banking channel.
The measure of 6 May 2022 is Décision COBAC D-2022/071, taken by the Commission Bancaire de l'Afrique Centrale and addressed to COBAC-supervised credit institutions, microfinance establishments and payment institutions, not a BEAC circular imposing an absolute regional prohibition.
No instrument numbered R-2023/CEMAC/UMAC/CM/04 exists; the CEMAC virtual-asset framework rests on Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF du 21 juillet 2022 and the COSUMAF Règlement Général of 23 May 2023, both administered by COSUMAF rather than BEAC.
Authorisation for virtual-asset activity in CEMAC comes from COSUMAF under art. 144 of Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF and the COSUMAF Règlement Général of 23 May 2023, and BEAC has issued no virtual-asset instrument of any kind.
Chad has enacted no national virtual-asset statute and needs none, because CEMAC règlements apply directly in member States: Règlement n° 02/24/CEMAC/UMAC/CM du 20 décembre 2024 lists virtual-asset service providers among assujettis at article 6(e), imposes a travel rule with a 500 000 FCFA occasional-transaction threshold at article 42 and ten-year record retention at article 39, and the Règlement Général COSUMAF du 23 mai 2023 defines PSAN and subjects them to COSUMAF agrément.
No BEAC circular restricts cryptocurrency in Chad; the 2022 instrument is Décision COBAC D-2022/071 du 6 mai 2022, addressed to COBAC-supervised banks, financial establishments, microfinance institutions, payment institutions and bureaux de change, and the GABAC 2023 mutual evaluation records that virtual-asset service providers were neither regulated nor supervised in Chad at the time of the on-site visit.
Operating a virtual-asset business in Chad requires a COSUMAF agrément under article 144 of Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF du 21 juillet 2022 and the Règlement Général COSUMAF du 23 mai 2023; COSUMAF has issued no PSAN implementing instruction and no agrément, and Décision COBAC D-2022/071 closes the banking channel, so an unlicensed operator acts outside the law while a lawful licensing route exists on paper.
The CEMAC crypto measure of 6 May 2022 is Décision COBAC D-2022/071, taken by the Commission Bancaire de l'Afrique Centrale and not by BEAC, and it binds only COBAC-supervised institutions — banks, financial establishments, microfinance institutions, payment institutions and bureaux de change — barring them from acquiring, holding, transferring, converting or booking crypto-assets and requiring them to detect such operations and report them to COBAC and BEAC. It creates no offence for the Chadian public, so holding, trading, exchanging and mining crypto-assets are not criminalised in Chad; since 20 December 2024 virtual-asset service providers are AML/CFT assujettis under article 6(e) of Règlement n° 02/24/CEMAC/UMAC/CM.
Verdict Attribution
- Source:
- AI-Generated · Unreviewed
- AI synthesized:
- 2026-07-13 (deepseek-chat)
- Last updated:
- 2026-07-13
- Confidence:
- medium
This verdict was produced by an AI model from the underlying facts. Confirm with counsel before relying on it for material decisions.
Conditional — A self-custodial wallet publisher (no custody, no access to user private keys) does not trigger VASP classification or AML obligations under Chadian/CEMAC law, but any integrated exchange, swap, or fiat service that gives the publisher control over funds would risk violating the BEAC prohibition on crypto-asset activities.
Questions this verdict aims to answer
- Does software publishing trigger VASP / MSB classification?
- Do AML obligations attach when no custody exists?
- What disclosure or consumer-protection rules apply?