Four African countries are eligible with respect to the efforts of jurisdictions conducting a virtual asset services (VASP) business on their territory of providing virtual asset services (VASP) of material importance in complying with recommendation 15. These are Nigeria, South Africa, Egypt, and Seychelles. Indeed, virtual assets are digital representations of value that can be exchanged or transferred digitally and used as a means of payment or investment. Recommendation 15 of Gafi relates to new technologies. In reality, countries need to identify and assess money laundering and terrorist financing risks associated with the development of new products and business practices.

According to the FATF report, Nigeria and South Africa seem to be the most advanced in terms of regulating VASPs among African jurisdictions, while Egypt has explicitly banned their activity. Seychelles is in the transitional phase of adopting the regulatory framework for VASPs