Total ban in Burundi on bitcoin after people lost money with trading

From today it is forbidden to trade in cryptocurrency in the French-speaking country of Burundi. The official reason is that the government cannot offer protection in the event of problems or disputes.

The government intervenes

Some residents of the African country lost money because they lost money because they (badly) traded with cryptocurrency. Alfred Nyobewumusi, a director in the microfinance department of the central bank, says these people asked the government to intervene. And the government intervened. He says that digital coins such as bitcoin and ethereum are now illegal.

“Strong measures can be taken against anyone who will not respect this decision,” he said in an interview in Bujumbura, the largest city in Burundi.

Other sounds

India is also considering a ban on cryptocurrency, but it seems that the rest of the world has reconciled with the existence of bitcoin and other crypto. This is usually expressed in regulations or an own central crypto.

Bank of England governor Mark Carney proposed last month to put a cryptocurrency at the center of the global monetary system. According to him, the government should supervise this.