Ethiopia’s central bank released a statement today calling Bitcoin “illegal,” prohibiting the use of any other currency except the Birr for all transactions. SponsoredSponsoredUnlike its western neighbor the Central African Republic which embraced bitcoin as legal tender, raising concerns from the International Monetary Fund, the National Bank of Ethiopia (NBE) does not recognize virtual currency, it said in an announcement Monday. In April this year, the Central African Republic, one of the world’s poorest nations, made bitcoin legal tender. “We’re not attempting to replace a national currency, and we’re not aiming to do a CBDC, which is obviously run by a central bank,” a source told Forbes at the time. Nigeria introduced its own central bank digital currency last year, the eNaira.

Source: Ethiopian News June 06, 2022 20:50 UTC