Burundi:Government prohibits bitcoin transactions

Burundi:Government prohibits bitcoin transactions

2019/11/6

The Burundian government has completely banned cryptocurrency transactions in the country,The reason is the lack of consumer protection for Bitcoin and other digital asset transactions.

Burundi’s bitcoin transactions are illegal

Burundi is a central African country with a population of nearly 12 million,encrypted currency trading has been banned.According to reports,some Burundian traders who lost a lot of money when trading Bitcoin called on the government to investigate the issue.The authorities believe that the best way to solve the problem is to completely ban cryptocurrencies instead of regulation.

Alfred Nyobewumusi, head of the microfinance department at the Central Bank of Burundi, made it clear when evaluating developments.Bitcoin and Ethereum are now illegal in the country,countries can take strict measures to prevent people from trading in cryptocurrencies.

Alfred Nyobewumusi said:Strong measures can be taken against all those who do not respect national decisions.


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