The Reserve Bank of Malawi (RBM) has issued a statement, according to which cryptocurrencies are not legal tender and should not be used for the discharge of any obligations, local media agency Nyasa Times reports.
The Head of RBM, Dr. Dalitso Kabambe, claims the bank wishes “to advise the general public that cryptocurrencies are not legal tender in Malawi.”
“The RBM is however aware that they are used as a means of payment or medium of exchange, a store of value or invested assets online,” Kabambe pointed out.
As one of the major risks that pose cryptocurrencies, Kamabme highlights that the trading is conducted via systems and platforms that are based outside of Malawi.
Recently, the Central Bank of Laos issued a warning regarding the use, purchase or sale of digital coins.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.