Burundi becomes the latest African country to ban cryptocurrency trading in totality
- Burundi bans trading in cryptocurrencies like Bitcoin and Ethereum.
- Strick measure to be taken on those found engaging in trading activities.
Burundians will no longer trade cryptocurrencies following a government directive that has outlawed the activities. The central bank in the country cites challenges with protecting its citizens against crypto-related fraud and losses.
A group of its citizens who lost funds while engaging in crypto trading activities turned to the government for intervention. However, the government moved to ban cryptocurrencies within its boundaries saying that those found trading will be prosecuted.
The director of the central bank’s micro-finance office, Alfred Nyobewumusi said categorically, “strong measures could be taken against all those who will not respect this decision.”
Read more: Samsung outperforms itself with the launch of a crypto-friendly Galaxy Note 10
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
