Kenyan Central Bank (CBK) had issued a circular warning financial institutions about risks of operations with cryptocurrencies. It is reported by local publication Standard Digital.
The document refers to the high volatility of bitcoin, and that the restrictive policy scriptactive is a common global practice. Moreover, mill believes that the lack of centralized control and anonymous nature of cryptocurrencies create fertile ground for money laundering and financing of terrorism.
“In particular, with cryptocurrencies associated risks relating to consumer protection, fraud, hacking and data loss. They also often serve as the basis for financial pyramids”, — said the representatives of the Central Bank.
Kenyan officials also did not forget to mention about the “licenseexpiredate” of cryptocurrency, and that they may not be legal tender in the country.
At the same time, the head of the monetary regulator Patrick Njoroge expressed its support for technological innovation. However, many of them, he said, can pose a threat to the financial sector.
It should be noted that this is not the first warning from the regulator of the monetary system of the country, where GDP per capita is just over $1100. About the “dangers” of bitcoin, the Central Bank of Kenya announced in 2015.