Sudan’s central bank is urging citizens not to use cryptocurrencies, warning of the risks of financial crime, electronic piracy and market volatility.
According to the state-run SUNA News Agency, the regulator said digital currencies couldn’t be considered as legal tender because they are “not issued by authorized or accredited bodies that are legally bound”
Parking money in cryptocurrencies is a small but growing trend in Sudan. The North African nation’s economy is under increasing strain after an October military coup derailed its path to democracy and led to the suspension of billions of dollars in overseas aid.
The Sudanese pound lost at least 15 percent of its value this month after the central bank allowed it to float.
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