Ethiopia’s Central Bank Renews Warning Against Virtual Asset Trading

July 24, 2026
By Mintesinot Nigussie

The National Bank of Ethiopia (NBE) has reiterated that transactions involving virtual assets remain prohibited unless specifically authorised by the central bank under the existing legal framework. In a public notice issued on July 23, 2026, the NBE said the restriction covers a wide range of activities involving virtual assets, including their use, purchase, sale, exchange, transfer, trading, settlement and facilitation of related transactions.

The central bank clarified that the prohibition extends beyond cryptocurrencies and applies to digital representations of value that can be electronically traded, transferred, exchanged or used for payments, investment or similar purposes. The NBE said activities covered by the restriction include exchanging virtual assets for fiat currencies, exchanging one virtual asset for another, transferring virtual assets, safeguarding or administering virtual assets or instruments that provide control over them, and providing financial services linked to the issuance or sale of virtual assets.

The regulator advised the public to avoid engaging in transactions involving virtual assets, warning of potential risks including legal exposure, fraud, scams, cybersecurity threats, operational failures, market manipulation and financial losses. The notice comes as regulators globally continue to strengthen oversight of digital assets, with authorities seeking to address risks associated with unregulated virtual asset markets.

Source: FSX Business News