Rwanda Bans Crypto Payments, Tests Digital Franc
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Rwandas Central Bank Bans Crypto Payments, Promotes Digital Franc: The National Bank of Rwanda has declared crypto transactions using the local franc as illegal, following Bybits announcement of Rwandan franc support. The bank emphasizes the francs sole legal status and warns of financial risks in crypto conversions. Rwanda has been tightening crypto regulations since 2018, with low adoption rates. A new draft law aims to regulate crypto providers, banning crypto as cash, mining, and franc-linked tokens, while allowing licensed services. The bank is testing a digital franc for local currency enhancement.
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