Rwanda’s central bank has made it clear again: crypto activity linked to its local currency is not allowed.
This response came quickly after Bybit added support for the Rwandan franc on its peer-to-peer platform, allowing users to trade crypto using the local currency.
The National Bank of Rwanda stepped in and said that under current rules, crypto cannot be used for payments, trading, or converting money involving the Rwandan franc. It also warned people about the risks, saying there’s no protection if something goes wrong.
The central bank reminded everyone that the franc is the only official currency in the country. It also said that banks and financial institutions are not allowed to help people convert between the franc and cryptocurrencies.
Rwanda has held this strict position since 2018. The focus has been on protecting its financial system and keeping the local currency stable.
At the same time, the country is exploring its own digital currency, known as the e-franc, which is still being tested and could be rolled out in the future.
Even though regulators pushed back, Bybit is continuing to expand globally. The platform has been adding new features, including investment options tied to stablecoins, as it tries to attract more users during uncertain market conditions.
In short, Rwanda is staying cautious. While crypto platforms are growing, the government is choosing to move slowly and keep tight control for now.
