Cryptocurrency service providers that are operating in Ethiopia have been instructed to register with the nation’s cybersecurity agency. INSA is the agency in charge of Ethiopia’s cybersecurity department, which will start to register cryptocurrency services and transfer providers in Ethiopia. Service providers after the announcement made by the National Bank of Ethiopia (NBE) have to start registering with the cybersecurity agency. NBE had mentioned that people in Ethiopia were using crypto transactions whereas using digital assets in Ethiopia is illegal. The National Bank of Ethiopia mentioned those transactions through digital assets while creating a possibility of money laundering.

Source: Ethiopian News August 29, 2022 01:02 UTC