Stablecoin issuer / redeemer in Chad

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.

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.

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.

The CEMAC measure restricting crypto-assets is Décision COBAC D-2022/071 du 6 mai 2022, issued by COBAC and binding only COBAC-supervised institutions, and a dedicated PSAN licence exists under art. 144 of Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF granted by COSUMAF rather than BEAC.

No CEMAC or Chadian instrument sets client-asset segregation rules specific to digital assets; the cantonnement obligation in Règlement n° 04/18/CEMAC/UMAC/COBAC du 21 décembre 2018 covers payment-service funds only, and the COSUMAF Règlement Général of 23 May 2023 leaves PSAN custody arrangements to a future implementing instruction.

CEMAC law regulates digital-asset custody through the PSAN category rather than a 'qualified custodian' concept: art. 1 of the COSUMAF Règlement Général of 23 May 2023 defines the prestataire de services sur actifs numériques as including conservation d'actifs numériques, and COSUMAF rather than BEAC is the competent authority.

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.

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.

Art. 2 of Règlement n° 02/24/CEMAC/UMAC/CM du 20 décembre 2024 defines an actif virtuel as a digital representation of value that can be traded or transferred digitally and used for payment or investment, a definition wide enough to capture stablecoins.

CEMAC law does not split virtual assets into 'crypto-assets' and 'digital tokens': art. 76 of Règlement n° 01/22/CEMAC/UMAC/CM/COSUMAF defines the jeton numérique and applies the appel public à l'épargne regime to it, while art. 1 of the COSUMAF Règlement Général defines jeton as an intangible right issued, recorded or transferred on a dispositif d'enregistrement électronique partagé.

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.

Carrying out occasional transactions above a certain threshold (e.g., EUR 1,000 equivalent for VASPs, as per FATF guidance).

Natural Persons: Obtain full name, date of birth, place of birth, nationality, physical address, and a unique identification number (e.g., national ID card, passport number). Verification through reliable, independent source documents or data.

Evidence fact td.aml.legal-entities-obtain-full-name not found (may have been renamed).

Identification of Beneficial Owners: Take reasonable measures to understand the ownership and control structure of the customer and identify the natural persons who ultimately own or control the customer. This often involves identifying individuals holding 25% or more of shares or voting rights, or otherwise exercising control.

Ongoing Monitoring: Continuously monitor the business relationship, including scrutiny of transactions undertaken throughout the course of that relationship, to ensure that the transactions are consistent with the VASP's knowledge of the customer, their business, and risk profile.

Enhanced Due Diligence (EDD): Apply EDD for higher-risk categories, which would typically include:

Virtual-asset service providers operating in Chad file suspicious transaction reports with the Agence Nationale d'Investigation Financière, instituted by Décret n° 07-107 du 2 février 2007, under Règlement n° 02/24/CEMAC/UMAC/CM du 20 décembre 2024, which lists PSAV among assujettis at article 6(e) and requires ten-year record retention at article 39.