Ethiopia Signals Potential Shift on Cryptocurrency Stance

The governor of the National Bank of Ethiopia (NBE) has indicated that the bank may issue guidelines for the use of cryptocurrency in the country, suggesting a potential shift in the country’s stance on digital currencies. While cryptocurrency is currently illegal in Ethiopia, the NBE is closely monitoring global developments in central banking and may consider allowing its use if other countries legalize it. This statement comes as the Ethiopian Parliament approved amendments to the National Bank of Ethiopia Proclamation, allowing foreign banks to operate in the country.