Ethiopia warns against use of cryptocurrencies

The bank has stated that it will take action against anyone who use cryptocurrency.

Ethiopia warns against use of cryptocurrencies

The central bank of Ethiopia has issued a warning against cryptocurrency trading.

The National Bank of Ethiopia (NBE) said in a statement on Monday that despite being illegal, the use of cryptocurrencies such as Bitcoin is growing more common.

According to the report, this was providing favorable conditions for the concealment of illicit funds.

The bank has stated that it will take action against anyone who uses cryptocurrency.