African countries facing mounting pressure from FATF's grey list — 12 African countries accounting for 57% of all grey-listed jurisdictions, driving crypto regulation urgency across Kenya, Seychelles and others, with Nigeria and South Africa eventually exiting in October 2025.
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According the IMF, these countries have lost significant sums of money as a result of being grey listed by the FATF
The country has been on the FATF’s greylist since 2023 because of loose AML/CFT regulations.
Seychelles, long regarded as a crypto-friendly jurisdiction, is moving to rein in the digital asset industry within its borders as consumer complaints about crypto-related losses continue to rise.
FATF’s latest review also reveals that 75% of jurisdictions globally fall short of crypto compliance.
This brings the total number of African countries on FATF’s grey list to 12, accounting for approximately 57% of all grey-listed countries.
The East African country, added to FATF’s grey list last week, committed to reining crypto-related money laundering and terrorism financing risks.
