Overview
- Bybit, which added Rwandan franc support to its peer‑to‑peer platform Friday, drew a Sunday notice from the central bank that FRW‑based crypto buying and selling is not allowed.
- The National Bank of Rwanda said crypto is not authorized for payments, FRW conversion, or peer‑to‑peer trades, and it warned that users have no legal recourse if funds are lost.
- Licensed banks and payment firms cannot convert between the franc and crypto, which cuts off formal on‑ and off‑ramps for people in Rwanda.
- Bybit had not issued a public response at press time, leaving unclear whether the exchange will keep FRW support on its marketplace.
- The Capital Market Authority has proposed licenses for crypto firms with strict limits, while the central bank advances an e‑franc digital currency in a market that Chainalysis ranks as low in crypto use.