Rwanda Central Bank Reaffirms Crypto Ban After Bybit Adds Franc Support

Rwanda's central bank has reiterated its prohibition on cryptocurrency transactions involving the national currency after Bybit introduced Rwandan franc support on its P2P marketplace. The bank warned residents against using such services due to financial risks and lack of legal protection. Since 2018, Rwanda has maintained a restrictive stance on cryptocurrencies while developing a central bank digital currency (e-franc) currently in proof-of-concept phase. A draft regulatory framework released in March proposes a licensing regime but bans mining, mixer services, and franc-linked tokens. Chainalysis data shows Rwanda has low crypto adoption rates compared to regional peers like Nigeria and South Africa.