Report: Central African Banking Regulator Says Crypto Ban Still Effective

Report: Central African Banking Regulator Says Crypto Ban Still Effective


An African regulator has told members of the six-nation Economic and Monetary Community of Central Africa (CEMAC) that a ban on cryptocurrencies is still effective. The regulator said the prohibition is designed to ensure financial stability is maintained within the economic bloc.

COBAC to Set Up System to Identify Crypto Transactions

An African regulator, the Banking Commission of Central Africa (COBAC), has reminded members of a regional economic bloc that includes the Central African Republic (CAR) that its ban on cryptocurrencies remains in effect. The regulator’s latest warning follows the CAR’s recent decision to adopt bitcoin as the country’s “currency of reference.”

Trending: Dr. Zelenko Admitted To The Hospital: “No Matter What Happens, I Want You To Know…”

According to a Reuters report, COBAC — a regulator of the banking sector in CEMAC — believes the prohibition will ensure financial

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend