Crypto in Africa: why GAFI / GIABA harmonization is key?

One of the biggest challenges of virtual assets (VA) in Africa is not technological.

It is the lack of regulatory harmonization.

Today:

each country moves at its own pace

some jurisdictions prohibit, others tolerate

VASPs exploit the gaps (regulatory arbitrage)

The role of the Financial Action Task Force (FATF)

The FATF imposes a clear global standard:

Recommendation 15 → regulation of VASPs

Travel Rule → traceability of transactions

risk-based approach (RBA)

Objective: align all countries on a common AML/CFT foundation

The role of the Intergovernmental Action Group against Money Laundering in West Africa (GIABA)

GIABA acts as a regional relay in West Africa:

adaptation of FATF standards to the local context

mutual evaluations of states

pressure for compliance (grey list / black list)

It transforms recommendations into regional operational reality

Without harmonization?

illicit flows shifted to weak jurisdictions

inefficiency of cross-border investigations

explosion of unregulated P2P

The risk becomes systemic at the regional level

The strategic issue

Effective harmonization allows:

✔️ better traceability of crypto flows

✔️ cooperation between states and VASPs

✔️ attractiveness for serious players

✔️ reduction of BC/FT risks