❗️Ethiopia Bans All Virtual Asset Transactions

The National Bank of Ethiopia reiterates that the use, purchase, sale, exchange, transfer, trading, settlement, and facilitation of transactions involving virtual assets are prohibited unless expressly authorized by the National Bank of Ethiopia under the existing legal framework. This prohibition is not limited to cryptocurrencies and extends to digital representations of value that can be electronically traded, transferred, exchanged, or used for payment, investment, or similar purposes.

Accordingly, the National Bank of Ethiopia hereby announces that the prohibition on virtual assets should not be interpreted as applying solely to cryptocurrencies but shall include one or more of the following activities: exchange between virtual assets and fiat currencies; exchange between one or more forms of virtual assets; transfer of virtual assets: safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets; and participation in and provision of financial services related to an issuer's offer and/or sale of a virtual asset.

The National Bank of Ethiopia therefore advises members of the public to refrain from engaging in any transactions and activities involving virtual assets as outlined above and avoid exposure to significant risks, including legal, fraud, scams, cyber-related threats. operational failures, market manipulation, and substantial financial losses.

23 July 2026 | Addis Ababa, Ethiopia

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