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Rwanda Central Bank Reaffirms Ban After Bybit Adds Rwandan Franc to P2P Marketplace

The National Bank of Rwanda (country’s central bank) said cryptocurrency activity linked to the local currency remains prohibited after Bybit introduced Rwandan franc support on its peer-to-peer marketplace.

Summary

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Terms & Concepts
  • Peer-to-peer marketplace: A trading platform where users buy and sell assets directly with each other rather than through a centralized order book.
  • Cryptocurrency exchange: A platform that allows users to trade digital assets and, in some cases, local currencies.
  • Rwandan franc: The official fiat currency of Rwanda, referenced here in relation to restrictions on crypto-linked activity.