Key Takeaways:

• The National Bank of Rwanda warned on April 5, 2026, that Bybit’s new FRW P2P feature violates the country’s crypto rules.
• NBR-licensed banks are prohibited from converting FRW to crypto, leaving users with zero legal recourse for losses.
• Rwanda’s Cabinet approved a draft VASP licensing framework on March 4, 2026, which could reshape crypto access rules.

National Bank of Rwanda Issues Crypto Warning

The National Bank of Rwanda, also known as the BNR, posted two statements (1, 2) on X addressing what it called “recent social media promotions” tied to crypto trading involving the local currency. The bank stated that the Rwandan franc remains the country’s only legal tender and that crypto-assets are not…