Why Burundi Banned Cryptocurrency Trading, And What’s Next…

Located in the southeastern region of Africa is a nation called Republic of Burundi. It has banned two things: one is group jogging (link), and the other is cryptocurrency (link).

Written in French, this link talks about banning every cryptocurrency including Bitcoin, Ethereum, Litecoin, Dogecion, and Bitcoin Cash. Why is that? The reason is simple: these tokens are not regulated. The bank doesn’t own them.

In fact, The Bank of the Republic of Burundi issued the statement to warn users from using any virtual currencies now — or in the future.

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The article also says: “We will take strong measures against those who do not respect this decision.” It appears that some residents of this French-speaking country complained to the government that they lost money by trading in Bitcoin.

As per Burunga.org, the Central Bank declared the victims of this cryptocurrency are at risk as their case will not be accepted by the courts. Therefore the government’s response to this was to permanently ban all the cryptocurrency activities.

What’s next?

No one really knows.

In fact, there isn’t much going on in Burundi. Our research shows the people are going to use crypto anyway. In fact, Twitter user @Kenyacoin points out that Burundi cannot ban Bitcoin. Freelancers can send and receive money in Bitcoin using various ways.

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