Rwanda Central Bank Warns Bybit Over P2P Platform

The National Bank of Rwanda has issued a warning to Bybit following the cryptocurrency exchange's addition of the Rwanda Franc (RWF) to its peer-to-peer (P2P) trading platform. This development highlights the ongoing tension between crypto platforms seeking to expand local currency access and regulatory authorities in emerging markets. Rwanda's central bank maintains that Bybit is not licensed to operate in the country, reflecting a cautious stance toward unregulated crypto services.

The warning underscores the regulatory challenges facing crypto exchanges as they expand into new jurisdictions, particularly in Africa where P2P trading has gained significant traction. While Bybit's move signals continued interest in African markets, regulatory pushback may slow adoption and force exchanges to pursue formal licensing. This incident follows similar regulatory actions across the continent, suggesting a pattern of authorities asserting control over crypto activities.

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