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The National Bank of Ethiopia bans all crypto transactions

The NBE (National Bank of Ethiopia) has banned all crypto currencies from being used in Ethiopia, including bitcoin. This has happened after over a dozen of financial regulators and central banks including the National Bank of Ethiopia which is the State bank of the country gathered in place to discuss bitcoin in El Salvador a country which legalized Bitcoin making it the first country to do so.

The Central bank of Ethiopia seen left, and the Central bank of El Salvador seen right.
Ethiopia bans bitcoin and all other cryptocurrencies due to fear of illegal activity.

The country’s prime minister Abiy Ahmed a noble peace prize laureate has not be critical with bitcoin and crypto he has even in a speech appeared to positively talk about the currency but for now it seems the prime minister who is in a tough situation is deciding to not make any major change in the economically torn country.

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