Burundi Bans Trading of Digital Currencies 

(Bloomberg) -- Burundi banned all trading of cryptocurrencies on its soil, saying it couldn’t offer digital money users protection in case of problems.

Some Burundians lost money while trading virtual currencies and asked the government to intervene, according to Alfred Nyobewumusi, a director at the central bank’s micro-finance department. Digital coins such as Bitcoin and Ethereum are now illegal in the country, he said.

“Strong measures could be taken against all those who will not respect this decision,” he said in an interview in Bujumbura, Burundi’s economic capital.

Bank of England Governor Mark Carney proposed last month putting a digital currency at the heart of the global monetary system that would be overseen by public authorities.

Bitcoin, the most-traded virtual currency, has risen 186% this year, trading at $10,520.94 as of 8:38 a.m. in New York, according to data compiled by Bloomberg.

©2019 Bloomberg L.P.

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