The head of the FIS Muluken Amare announced the new rules at a meeting of the Group to combat money laundering in East and South Africlg (Esaamlg) in Addis Ababe. At the event, representatives of the countries of this region of the planet discussed the risks of financial security related to digital assets.
The senior legal adviser to Esaamlg Muluken Yirga said that he was concerned about the methods of bypassing the protection systems for traditional financial systems using cryptocurrencies used by international criminals. He said that such terrorist organizations as “ASh Shabaab”, “al-Qaida” and ISIS are operating in the country. They are increasingly using cryptocurrencies to collect and transfer funds, despite the official ban on cryptocurrency trading, acting in Ethiopia, the head of FIS said.
The head of FIS admitted that not all transactions using virtual assets can be called criminal or related to fraud. However, the official currency of Ethiopia is a volume, and any transactions in other currencies are prohibited, the official recalled. It doesn’t matter whether digital assets will be legalized in Ethiopia or remain prohibited, the country should have mechanisms for regulating cryptocurrencies, Amar said.
Earlier, the National Ethiopia Bank (NBE) said that the use of cryptocurrencies for payments instead of Ethiopian Byra is unacceptable – the local currency should be the only legal means of calculations in the country.
Source: Bits
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