"The Central Bank of Rwanda stated that crypto-assets are not authorized for payments, conversions involving the franc, or peer-to-peer trading under the current framework."
"Regulators stressed that the Rwandan franc remains the country's only legal tender, reinforcing restrictions designed to limit exposure between the domestic financial system and digital asset markets."
"Rwanda has maintained a restrictive stance on cryptocurrencies since 2018, framing this position as part of a broader effort to protect financial stability and preserve confidence in the local currency."
"The latest warning underscores concern that foreign crypto platforms integrating the franc into trading services could bypass existing safeguards, creating informal channels that operate outside regulatory oversight."
Rwanda's central bank has reiterated its ban on cryptocurrency activities involving the Rwandan franc, following Bybit's introduction of P2P trading in the currency. The bank warned residents against using such services due to financial risks and lack of legal protection. It emphasized that the Rwandan franc is the only legal tender and prohibited financial institutions from facilitating conversions with crypto-assets. Rwanda has maintained a restrictive stance on cryptocurrencies since 2018 to protect financial stability and confidence in the local currency.
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