Crypto News: Rwanda Restricts Bybit’s P2P Platform Over Franc-to-Crypto Trading

In a separate message, the central bank stressed that the Rwanda franc remains the countrys only legal tender. It added that financial institutions licensed by the regulator have no permission to convert local currency into crypto or crypto back into francs.

As per the recent crypto news, Bybit has yet to respond to the update by the National Bank of Rwanda.

Crypto News: Rwanda Announced a Central Bank Digital Currency in Feb 2026

In a February crypto news update, the Eastern African country announced that it was exploring its Central Bank Digital Currency (CBDC). At the time of writing, the e-franc rwandais is at the proof-of-concept phase. The pilot phase will kick off at any time this year.

For years, Rwanda has taken a cautious line on crypto. Since 2018, the country has limited its use as part of a wider effort to protect control over its financial system and defend the role of the local currency.

That approach may tighten further. In March, Rwandas Capital Market Authority released a draft framework for virtual asset service providers. The regulator said the proposal aims to support responsible innovation, but the draft also draws firm red lines.

The bill now moving through parliament would prevent crypto from being used as legal tender in Rwanda. It would also outlaw crypto mining, mixer services, and tokens linked to the Rwanda franc.

However, note that the proposal by the national bank does not amount to a total ban because it provides cryptocurrency platforms a pathway to operate legally by obtaining the appropriate licenses. This will also ensure that they operate under regulatory supervision.

Nonetheless, crypto usage in the Eastern African country remains relatively lower than in other African countries, such as Nigeria and South Africa. According to Chainalysis insights, crypto adoption in Rwanda remained low in both 2024 and 2025.