"The National Bank of Rwanda stated that the Rwandan franc remains the country's only legal tender and that crypto-assets are not recognized as a means of payment under current law."
"NBR-licensed financial institutions are prohibited from converting FRW into crypto-assets or vice versa, confirming that using crypto to purchase goods and services in Rwanda is not permitted."
"The bank warned that anyone engaging in such transactions does so entirely at their own risk and has no legal protection or recourse in the event of a loss."
The National Bank of Rwanda issued a warning regarding unauthorized peer-to-peer crypto trading involving the Rwandan franc after Bybit added FRW support. The bank emphasized that the Rwandan franc is the only legal tender and crypto-assets are not recognized as payment. NBR-licensed banks cannot convert FRW to crypto, leaving users without legal recourse for losses. The bank reiterated that engaging in such transactions is at the user's own risk. Rwanda has upheld restrictions on crypto payments and FRW conversions since 2018.
Read at news.bitcoin.com
Unable to calculate read time
Collection
[
|
...
]