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Bitcoin Business Transactions Are Illegal: Ethiopian Central Bank

  • Ethiopia’s central financial institution issued an announcement reminding its citizenry that enterprise practices made with bitcoin are unlawful.
  • The National Bank of Ethiopia warned that “informal financial transactions” utilizing BTC are used for “money laundering schemes.”
  • The Commercial Bank of Ethiopia said BTC was getting used for business practices nevertheless it is unclear whether or not companies are shopping for or promoting with BTC.

The National Bank of Ethiopia (NBE), has reiterated that it is unlawful to conduct enterprise with cryptocurrencies equivalent to bitcoin, in accordance to a translated report from Ethiopian state media outlet Fana Broadcasting Corporate (FBC).

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