The central bank posted a firm warning on X on Sunday, telling the public that using the local currency to buy or sell crypto remains against the law.
Officials urged citizens to stay away from crypto, citing serious financial risks and no legal protection if money is lost.
Crypto-assets are NOT authorized for payments, FRW conversion, or P2P trading involving FRW under the current framework.
Bybit had announced the addition on X, saying users could now use the Rwandan franc through its P2P service to trade for crypto. No statement has been issued by the exchange in response to the central bank’s warning.
RWF is now live on Bybit P2P 
Buy and sell crypto using Rwanda Franc, unlock exclusive rewards as a new user, and start earning as a merchant with bi-weekly commissions. Trade more, earn more! 
That prohibition has been in place since 2018, when Rwanda first began restricting crypto activity — part of a broader effort to protect its financial system and keep control over how money moves inside its borders.
A Licensing Path May Still OpenThe picture is not entirely closed for crypto operators in Rwanda. In March, the country’s Capital Market Authority released a draft bill that would create a legal path for virtual asset service providers to apply for licenses and operate under official supervision. The bill is still working its way through the legislature.
Under the proposed rules, crypto could not be used as legal tender. Mining operations and mixer services would be banned. So would any token tied to the Rwandan franc. But companies that meet the licensing requirements could, for the first time, legally offer services in the country.
Featured image from Pexels, chart from TradingView
