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

Key Insights:

• According to recent crypto news, the Central Bank of Rwanda warned Bybit that using crypto with the Rwandan franc (FRW) is illegal.
• The update came after BitByt exchange added franc support to its P2P platform. Authorities cite financial risks and lack of legal protection for users.
• Rwanda pushes tighter crypto rules while exploring a central bank digital currency.

The latest crypto news indicates that Rwanda’s central bank moved quickly after Bybit added the Rwandan franc to the list of currencies supported on its peer-to-peer crypto platform.

The Central Bank of Rwanda said crypto payments and trades involving the local currency remain illegal under the country’s current rules. The warning came after Bybit announced on Friday that users could buy and sell crypto in Rwandan francs through its P2P service.

Crypto News: Rwanda Moves to Halt Bybit from Supporting Rwandan Franc to Crypto Trading

In a post on X published on Sunday, the Rwanda central bank said crypto-assets are not approved for payments, Rwanda franc conversion, or peer-to-peer trading involving the franc. It also warned the public to stay away from crypto, pointing to serious financial risks and the lack of protection if users lose money.

The bank was responding directly to Bybit’s earlier crypto news announcement about the update. That post had suggested that users cannot use the Rwandan franc for crypto transactions on the exchange.

In a separate message, the central bank stressed that the Rwanda franc remains the country’s 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, Rwanda’s 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.