National Bank of Ethiopia warns using cryptocurrency

The National Bank of Ethiopia announced that it never give permission for crypto currencies in the country and warned that those who are using it will face repercussions.

In a statement the central bank released on Monday stated that people are increasingly using crypto currencies such as Bitcoin and others for illicit activities like money laundering.

While cryto currency is welcomed in some parts of the world, several countries are wary of its volatility and decentralized nature. Among them perceive it as a threat to their current monetary systems while being concerned about its use to support.

Capital Ethiopia

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