Sudan Central Bank Warns on Cryptocurrency Use as Economy Tanks

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Sudan Central Bank Warns on Cryptocurrency Use as Economy Tanks | Bloomberg archive.ph/8TAr9

13 sats \ 7 comments \ @KenyaCoin 28 Mar 2022 bitcoin

1 sat \ 5 replies \ @KenyaCoin OP 28 Mar 2022

Sudan’s central bank urged citizens not to use cryptocurrencies, warning of the risks of financial crime, electronic piracy and market volatility.

The regulator said digital currencies couldn’t be considered legal tender because they’re “not issued by authorized or accredited bodies that are legally bound,”

The Sudanese pound lost at least 15% of its value this month after the central bank allowed it to float.

0 sats \ 3 replies \ @KenyaCoin OP 28 Mar 2022

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Sudan Central Bank Warns on Cryptocurrency Use as Economy Tanks https://www.bloomberg.com/news/articles/2022-03-28/sudan-central-bank-warns-on-cryptocurrency-use-as-economy-tanks

1 sat \ 1 reply \ @KenyaCoin OP 28 Mar 2022

Sudan’s central bank warns against civilian use of Bitcoin and cryptocurrencies, a reaction to increased adoption in the country, where the inflation rate exceeds 400%

Friends there say a formal ban is in the works 🇸🇩

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