The National Bank of Ethiopia (NBE) clarified in a recent statement that it is still “illegal” to transact using Bitcoin or other cryptocurrencies. The central bank’s concern lies in crypto’s alleged use for informal transactions and money laundering schemes in Ethiopia. It called on the public to report such “illegal transactions” if witnessing them. Ethiopia’s crypto position stands in stark contrast to the Central African Republic (CAR), which adopted Bitcoin as legal tender in April. However, the Bank of Central African States – which governs CAR’s legacy currency, the CFA – reportedly opposed the move, and was not consulted on the nation’s Bitcoin plan.

Source: Ethiopian News June 06, 2022 18:30 UTC