Ethiopia's National Bank has temporarily restricted digital payment services in applications without its license, including cryptocurrencies. This measure, based on compliance inspections, aims to safeguard financial security. The bank advises individuals to rely on verified information for transactions.
On February 27, 2026, in Addis Ababa, the National Bank of Ethiopia announced temporary restrictions on digital payment services conducted through various applications lacking its authorization, including those involving cryptocurrencies. This decision stems from compliance audits revealing that individuals have been processing payments via unlicensed platforms.
As global demand for digital payments rises, the bank emphasized the need for caution, urging users to base transactions on accurate information. It highlighted risks associated with digital payments, such as market volatility, foreign exchange rate fluctuations, cyber threats, privacy concerns, illegal money transfers, and financial instability.
The institution is developing a comprehensive compliance framework to secure digital payment technologies. Moving forward, it plans to collaborate with international financial regulators and domestic experts to ensure financial stability and the integrity of the national payment system.
These restrictions on unlicensed digital payment services will remain in place until further notice.