Rwanda crypto ban reaffirmed as Bybit adds Rwandan franc P2P

Rwanda’s central bank reaffirmed a crypto ban tied to the Rwandan franc (RWF/FRW) after Bybit enabled franc-denominated support on its P2P platform. The regulator says cryptocurrencies are not authorized in Rwanda for payments, for converting between crypto and the Rwandan franc, or for peer-to-peer trading involving FRW under the current legal framework. The statement reiterates that the Rwandan franc is the only legal tender and that supervised financial institutions are barred from facilitating exchanges between FRW and crypto-assets. The central bank also warned consumers that using franc-linked crypto platforms could lead to financial losses and offers no formal protection. Bybit did not publicly clarify its local regulatory compliance for the franc feature. Rwanda’s policy follows the country’s strict stance since its 2018 crypto crackdown, while a separate draft licensing framework from the Capital Markets Authority proposes supervised, permissioned virtual-asset service provider operations and flags risks such as mining, privacy mixers, and tokens pegged to the Rwandan franc. Related development: Rwanda is testing a state-backed CBDC, the e-franc, as a controlled upgrade to payment systems under central bank oversight. Trading implication: This Rwanda crypto ban is likely to reduce demand for franc-linked on/off-ramps and P2P liquidity locally, but it should have limited spillover to global crypto prices. Traders should monitor compliance headlines and FRW-specific channel liquidity shifts.