The National Bank of Ethiopia (NBE) clarified in a recent statement that it is still “illegal” to transact using Bitcoin or other cryptocurrencies. Citizens are encouraged to continue trading using the Ethiopian Birr.
“Ethiopia’s national currency is the Ethiopian Birr, with any financial transaction in Ethiopia to be paid in Birrs, according to the law,” the NBE said in a statement.
“They lose the ability to control the creation and the supply of money,” he explained.