The Nation Bank of Ethiopia ( NBE) announced today that it has not allowed digital currencies including Crypto currencies and Bitcoin in the country citing they are prone to large-scale money laundering and other illicit activities.
On the other hand, Ethiopians who are using crypto currencies are criticizing the bank's decision. Young Ethiopians who use crypto currencies, say it is inappropriate for the bank to make inappropriate decisions on digital currency, which it cannot control.
They said people with in-depth knowledge of the subject should examine and study it and develop a legal framework that could be put to better use.
The Ethiopian Ministry of Science and Technology, which is launching various initiatives on digital currency, has nothing to do with the issue.
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