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BTC Ban: Top African Countries Where Buy/sell Of Crypto Is Restricted - Business - Nairaland

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BTC Ban: Top African Countries Where Buy/sell Of Crypto Is Restricted by teegrams(m): 3:17pm On Jun 13, 2022
Ethiopia is the latest African country to ban the use of crypto currencies.
The central bank issued a warning that crypto currencies are being utilized to carry out unofficial financial transactions and schemes involving money laundering.

Bitcoin has been controversial since its beginning in 2009, as have the subsequent crypto currencies that followed in its wake.

Due to its extreme volatility, its use in nefarious transactions and the exorbitant use of electricity to mine it, the legal status of the digital currency varies substantially from country to country. But as more Africans turn to cryptos, the criticisms have continued to manifest in an array of restrictions on their usage.

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Some countries have banned the use of Bitcoin and cryptocurrencies, while others have placed limitations on how Bitcoin can be used. This article uncovers the full list of African countries that have implemented a ban on Bitcoin and cryptocurrency.

Note: Implicit bans refer to those which prohibit banks or other financial institutions from dealing in cryptocurrencies or offering services to people or businesses that involve crypto.

Algeria — Absolute ban
Benin — Implicit ban
Burkina Faso — Implicit ban 
Burundi — Implicit ban
Cameroon — Implicit ban
Central African Republic — Implicit ban
Chad — Implicit ban
Cote d`Ivoire — Implicit ban
Ethiopia — Implicit ban
Democratic Republic of Congo — Implicit ban
Egypt — Absolute ban
Gabon — Implicit ban
Lesotho — Implicit ban
Libya — Implicit ban
Mali — Implicit ban
Morocco — Absolute ban
Namibia — Implicit ban
Niger — Implicit ban
Nigeria — Implicit ban
Senegal — Implicit ban
Tanzania — Implicit ban
Togo — Implicit ban
Tunisia — Absolute ban
Uganda — Implicit ban
Zambia — Implicit ban
Zimbabwe — Implicit ban
Source: https://matrixliveng.com/btc-ban-top-african-countries-where-buy-sell-of-crypto-is-restricted/

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