Rwanda Reaffirms Ban on Crypto Payments and Trading

[cryptoenthusiast]

The National Bank of Rwanda (NBR) has reiterated that crypto-related payments and transactions involving the Rwandan franc (FRW) remain illegal under current regulations. This warning came shortly after Bybit announced support for FRW on its peer-to-peer (P2P) platform, allowing users to trade crypto using the local currency.

NBR emphasized that crypto-assets are not authorized for payments, currency conversion, or P2P trading involving FRW. It also warned citizens about significant financial risks, including the lack of legal protection in case of losses. The central bank made it clear that FRW remains the only recognized legal tender, and licensed financial institutions are strictly prohibited from facilitating crypto conversions.

[cryptobro]

bybit: “you can trade with frw”
rwanda: “no you can’t”