Rwanda Warns Against Bybit FRW to Crypto Offering
Cointelegraph
The National Bank of Rwanda has declared crypto trading using the Rwandan franc illegal following Bybit's addition of the currency to its platform.Summary
The National Bank of Rwanda (NBR) has issued a warning against using the Rwandan franc (FRW) for cryptocurrency transactions after Bybit enabled FRW support on its peer-to-peer platform. The central bank emphasized that crypto-assets are not authorized for payments or currency conversion, citing significant financial risks and a lack of consumer protection. While the NBR maintains that the FRW is the only legal tender, the country is simultaneously exploring a central bank digital currency and drafting new legislation to regulate virtual asset service providers, aiming to balance financial sovereignty with responsible innovation.
(Source：Cointelegraph)